Paramount Grants Co-CEOs Additional Stock Awards Worth $3 Million, Other Sweeteners
deadline.comParamount Global’s board has approved new grants of restricted stock valued at $3 million for each of its co-CEOs, Chris McCarthy, George Cheeks and Brian Robbins.
Cheeks, CEO of CBS; McCarthy, CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Robbins, CEO of Paramount Pictures and Nickelodeon; were installed in the Office of the CEO after the ouster of Bob Bakish in April as Paramount was in the process of selling itself.
The company controlled by Shari Redstone later inked a deal with Skydance that’s expected to close in 2025. McCarthy was designated interim principal executive officer for purposes of the rules and regulations of the SEC.
The trio’s compensation was sweetened in June to reflect their new roles, including an increase in their target annual cash bonuses under the company’s short-term incentive plan by an additional 100% of their annual base salaries.
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