Paramount CEO Bob Bakish acquired complete compensation final yr of $20 million, a drop of practically $19 million in comparison with 2020.
Bakish took in $3.1 million in wage and one other $16.8 million in non-equity compensation final yr. In 2020, Bakish’s practically $39 million haul was inflated by the worth of $16 million in inventory awards that he acquired plus a $19.7 million bonus. Final yr, per Paramount’s disclosure, Bakish didn’t obtain a money bonus or extra inventory awards.
In detailing the manager compensation totals for 2021, Paramount cited in its proxy report that the corporate efficiently launched the Paramount+ streamer (on the again of CBS All Entry) in March 2021. It additionally hailed the administration group for having “efficiently executed a method that shifted our focus to rising the variety of world streaming subscribers and rising world streaming income whereas maximizing revenues from conventional sources to assist fund the expansion alternative in streaming.”
The proxy submitting additionally cited Paramount’s acquisition of Chilean community Chilevision and FoxTelecolombia & Estudios TeleMexico as accomplishments for the yr.
Paramount chief monetary officer Naveen Chopra took residence $4.1 million in his first full yr with the corporate. In 2020, he acquired $7.5 million price of inventory awards and a $2 million bonus, taking his complete compensation to $11.3 million. Final yr, Chopra took in $2.6 million in non-equity comp.
Paramount’s proxy assertion made it clear that progress in streaming is the overwhelming focus of Paramount’s enterprise operations, and consequently, its govt compensation blueprint.
For this yr’s bonus plan, Paramount disclosed it has “mixed monetary and streaming-based quantitative efficiency objectives within the 2021 (Brief-Time period Incentive Plan) design to emphasise our concentrate on accelerated streaming progress whereas additionally assembly our bottom-line monetary objectives,” Paramount acknowledged. “Given the Committee’s and administration’s evaluation that the 2021 STIP design was profitable in driving and rewarding desired behaviors, for 2022, the Committee decided to proceed with usually the identical efficiency metrics.”
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