Paramount sets executive salaries following Skydance deal

Paramount has established the pay structure for its new executives after the acquisition by Skydance.

Paramount announces salaries for new leadership team

Paramount has finalized the base salaries for its newly appointed executives following the completion of Skydance's $8 billion acquisition of the media company. David Ellison, the founder of Skydance and now CEO of Paramount, will receive an annual salary of $3.5 million along with a targeted bonus of $1.5 million. Jeff Shell, the president, will also have the same base salary and bonus structure. Chief Strategy Officer Andy Gordon's salary is set at $2.8 million with an annual bonus of $1.2 million. In a related decision, former co-CEOs Chris McCarthy and Brian Robbins will each receive substantial payouts of about $18 million upon their exit. Paramount has transitioned George Cheeks to chair of TV media, and the company will now trade under the ticker symbol 'PSKY'.

The considerable salaries and bonuses for Paramount's new leaders reflect the company's ambition to establish a strong foothold in the competitive media landscape. With Ellison at the helm, Paramount is expected to focus on integrating Skydance's diverse portfolio while navigating the complex dynamics of a major acquisition. High pay for executives also raises discussions about fairness, especially in an industry where concerns about wages and layoffs are prevalent. The substantial payouts to prior co-CEOs highlight how lucrative executive positions can be, even during transitions, potentially fueling public criticism about corporate governance and executive compensation.

Highlights

As Paramount settles into its new leadership, it will be watched closely for its strategic direction and executive decisions.