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

Philippe Dauman

Philippe Dauman, the CEO of Viacom, which, just like CBS Corp., is controlled by Sumner Redstone, received a compensation package worth $33.5 million for the company's fiscal year ended Sept. 30. That was a decline of 22 percent, but still allowed him to stay ahead of many of his peers.

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.