Viacom Inc. (VIAB), owner of the Nickelodeon and Comedy Central TV networks, said the total compensation of its top three executives rose 28 percent to a combined $102.4 million last year, based on reporting rules.
Chairman and founder Sumner Redstone’s pay rose the most, to $36.2 million from $20.4 million in 2012, due largely to changes in the value of his options, the New York-based company said yesterday in a regulatory filing. President and Chief Executive Officer Philippe Dauman’s compensation grew 11 percent to $37.2 million, while Chief Operating Officer Thomas Dooley made $29.1 million, also up 11 percent.
The pay figures include salaries, cash bonuses and pensions, as well as the value of stock and option grants awarded in previous years. All three executives’ base salaries were unchanged.
“The vast majority of Viacom’s senior executive compensation is performance- or equity-based, aligning our executives’ interests with those of our stockholders,” the company said in a statement. “Their compensation in 2013 reflects more than $10.5 billion delivered to owners of Viacom shares in fiscal 2013.”
Viacom fell 2.5 percent to $81.41 yesterday in New York. The Class B shares rose 56 percent during Viacom’s fiscal year ended Sept. 30, compared with 17 percent for the Standard & Poor’s 500 Index.
To contact the editor responsible for this story: Anthony Palazzo at email@example.com