Former CBS CEO Joe Ianniello Earns $125 Million Exit Package
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hollywoodreporter.comViacomCBS disclosed the compensation for its top executives, in its first proxy filing since merging the two Redstone family-controlled companies last year.
CEO Bob Bakish received $8.3 million after the close of the merger Dec. 4. His annualized target compensation is $31.5 million.
Meanwhile, former CBS CEO Joe Ianniello, who parted ways with the company at the end of January, received his full separation fee of $125.4 million, the filing shows.
Ianniello's hefty payout was the result of a contract extension he signed last year that ran into 2021, as well as a clause in a prior contract that stipulated he would be in line for a bonus if he was not named CEO of the company.
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