Viacom CEO Philippe Dauman's Pay Falls to About $36.9 Million

Viacom CEO Philippe Dauman

The company also discloses its compensation for executive chairman Sumner Redstone.

Viacom, under fire from activist shareholders who have been complaining of a dwindling stock price amid lavish executive compensation, took the unusual step Wednesday of disclosing that CEO Philippe Dauman made at least $36.9 million in fiscal 2015.

Dauman's salary and some bonuses came by way of a statement ahead of the disclosure of the conglomerate's SEC filing, so Dauman's total compensation could be a bit higher than $36.9 million, which represents a 17 percent decline over his 2014 pay.

In fiscal 2015, shares of Viacom tumbled 43 percent. 

According to the statement, Dauman's salary was $4 million, he earned an equity award of $18.9 million and he collected a bonus of $14 million. A regulatory filing due later, though, will include some other items that should push his compensation north of $37 million.

Sumner Redstone, the physically ailing executive chairman and controlling shareholder, received $2 million in compensation, down 85 percent from the $13.2 million he earned a year earlier, according to the statement. Viacom said Redstone's salary was unchanged in fiscal 2015 but he became ineligible to receive a bonus beginning in the fiscal year.

Dauman is routinely near the top of the list of highest-paid CEOs in the country, even though investors haven't fared so well lately, as MTV, Nickelodeon and Comedy Central have faced ratings declines.

A year earlier, Dauman's pay rose 19 percent to $44.3 million while shares fell 8 percent.

Dauman's contract is up at the end of 2018, though he can step down with perhaps tens of millions in severance if anyone but Redstone, 92, becomes his boss.
 
Email: Paul.Bond@THR.com

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