Huge Payout For Ex-Paramount Boss Bob Bakish In 2024

In 2024, former Paramount Global CEO Bob Bakish's total compensation surged 178% to $86.96 million, up from $31.3 million in 2023, according to the company’s SEC filings. 

This dramatic increase was largely driven by a $69.3 million severance package following his exit as CEO in April 2024. 

Bob Bakish

The severance included $6.2 million in salary continuation, $24.8 million in bonus continuation, a $10.36 million pro-rated bonus, $27.81 million in accelerated equity awards, and smaller amounts for benefits and outplacement assistance. 

Beyond severance, Bakish’s 2024 pay comprised a $2.61 million base salary, $15.08 million in stock awards, $10.4 million in non-equity incentive compensation, and $58.9 million in “other” compensation, which included pension value changes.

Bakish stepped down amid tensions with controlling shareholder Shari Redstone and Paramount’s board, particularly over his opposition to a merger with Skydance Media, which he believed would dilute shareholder value. 

He remained a senior advisor until October 31, 2024, earning a monthly salary of $258,333 during this transition. His departure coincided with Paramount’s shift to an “Office of the CEO” led by George Cheeks, Chris McCarthy, and Brian Robbins, who earned $22.2 million, $19.5 million, and $19.61 million, respectively, in 2024.