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Paramount Global CEO Bob Bakish saw his total compensation rise in 2022 to $32 million.
The company filed its annual proxy statement Friday afternoon, disclosing the pay bump. Bakish’s compensation package totaled $20 million in 2021. The jump in pay in 2022 was due to a $16 million stock awards grant. His salary remained unchanged at $3.1 million
But Paramount also revealed that it plans to bring Dawn Ostroff into its fold as a member of the board of directors. Ostroff most recently led content for Spotify, and before that helped launch The CW network for CBS (now a part of Paramount) and Warner Bros.
“We are thrilled to welcome Dawn to Paramount’s board at such an exciting moment in our evolution,” said Shari Redstone, Chair of Paramount’s board of directors, in a statement. “We believe her leadership, diverse expertise in content strategy and her long track record of driving transformation will prove invaluable as we seek to continue building on the success of Paramount’s global multiplatform strategy.”
Candace Beinecke and Ronald Nelson will not stand for reelection as directors.
Other Paramount executives also saw their pay packages rise, with CFO Naveen Chopra earning $6.5 million, up from $4 million in 2021, and executive VP Christa D’Alimonte earning $5.7 million, up from $3.2 million a year earlier.
More to come…
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