Results for: Bob Bakish

Paramount Global CEO Bob Bakish has stepped down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish’s departure comes after reports of his private dissent against the merger, which would dilute common shareholders. The company will now be led by an “Office of the CEO,” consisting of CBS president and CEO George Cheeks, Showtime/MTV Entertainment Studios and Paramount Media Networks president and CEO Chris McCarthy, and Paramount Pictures and Nickelodeon head Brian Robbins.

CNBC’s Julia Boorstin reports on the latest developments in the Paramount executive shakeup. She provides insights on the departure of longtime CEO Bob Bakish and the appointment of new leadership.

Paramount Global CEO Bob Bakish’s total compensation rose to $31.3 million in 2023, driven by strong performance-based incentives and stock awards. The company’s recent cost-cutting measures and layoffs have faced scrutiny.