Viacom Acting CEO to Get $12 Million Target Pay, Two Salaries
- Bakish to be acting chief and Viacom Global division head
- Salaries exceed $5 million and bonus can top $3.5 million
Bob Bakish.
Photographer: Pau Barrena/BloombergThis article is for subscribers only.
Viacom Inc.’s Bob Bakish will enter the job as acting chief executive officer with a minimum $12 million target annual compensation while the board weighs a potential deal with CBS Corp.
Bakish will receive an annual salary of $2.5 million or $500,000 monthly, whichever is greater, as acting CEO, according to a regulatory filing from the New York-based company. The board also granted him a separate $2.75 million salary in his capacity as head of Viacom Global Entertainment Group, a division of the company that includes international networks and music channels like MTV. He’s eligible for $3.25 million in equity awards and a $3.5 million target annual bonus that can be increased based on his performance as company chief.