Entertainment

Paramount CEO Bob Bakish made $20 million in 2021

Paramount CEO Bob Bakish received $20 million in total compensation last year, down nearly $19 million from 2020.

Bakish earned $3.1 million in salaries and an additional $16.8 million in benefits last year. In 2020, Bakish’s nearly $39 million haul was inflated by the value of $16 million in stock awards he received plus a $19.7 million bonus. Over the past year, Bakish has not received a cash bonus or additional stock awards, according to Paramount’s disclosure.

In detailing total executive compensation for 2021, Paramount in its proxy report cited that the company successfully launched streamer Paramount+ (on the back cover of CBS All Access) in March 2021. We have shifted our focus to counting global streaming -Increase subscribers and grow global streaming revenue while maximizing revenue from traditional sources to fund streaming growth opportunities.”

The proxy filing also named Paramount’s acquisition of Chilean network Chilevision and FoxTelecolombia & Estudios TeleMexico as achievements for the year.

Naveen Chopra, Paramount’s chief financial officer, took home $4.1 million in his first full year with the company. In 2020, he received $7.5 million in stock awards and a $2 million bonus, bringing his total compensation to $11.3 million. Last year, Chopra earned $2.6 million in non-stock compensation.

Paramount’s proxy statement made it clear that streaming growth is the overwhelming focus of Paramount’s operations and, consequently, its executive compensation plan.

For this year’s bonus plan, Paramount announced that it has “combined financial and streaming-based quantitative performance targets in the Design 2021 (Short-Term Incentive Plan) to emphasize our focus on accelerated streaming growth while meeting our financial goals.” Superbly explained. “Given the Committee’s and management’s assessment that the 2021 STIP design was successful in driving and rewarding desired behaviors, the Committee decided to proceed with generally the same performance metrics for 2022.”

https://variety.com/2022/biz/news/bob-bakish-paramount-viacomcbs-2021-salary-1235233776/ Paramount CEO Bob Bakish made $20 million in 2021

Charles Jones

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