Four Paramount Global Board Members to Exit Amid M&A Talks
variety.comTodd Spangler NY Digital Editor Four members of Paramount Global‘s current 11 board of directors will step down, the company disclosed, coming as the company has stepped up talks with Skydance Media about an M&A deal.
The four directors — Dawn Ostroff, former chief content and advertising business officer of Spotify; Nicole Seligman, former president of Sony Entertainment; Frederick Terrell, vice chairman of investment banking at Wells Fargo; and Rob Klieger, partner at Hueston Hennigan LLP, who had served as legal counsel to Sumner Redstone — will not stand for reelection at Paramount Global’s annual meeting, set for June 4.
The company did not provide an explanation for or an exact timeline of their departures, which was disclosed in a proxy statement Thursday with the SEC.
Ostroff, Seligman and Terrell are among the directors on Paramount Global’s special committee established to consider M&A proposals.
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