Four directors of Paramount Global will not standing for re-election at the annual meeting, an SEC filing has confirmed, paring the board down to seven directors.
Shareholders will vote on directors and other matters at the meet, which Paramount has set for June 4.
The proxy statement, which also lists the salaries of a company’s top five highest paid executives, said CEO Bob Bakish saw his total compensation dip slightly in 2023, to $31.3 million from $32 million in the prior year. He was by far the top-paid member of the senior management team, with the next-best-compensated being CFO Naveen Chopra, with a total package worth $8 million.
Bakish saw a $3.1 million base salary, stock awards worth $15.5 million and a cash incentive bonus of $12.4 million plus another $200+k for a total of $31.26 million.
Paramount is currently in an exclusive 30-day exclusive negotiating window with David Ellison’s Skydance Media for a deal that is so far deeply unpopular with most investors. The window ends May 3, a month before the annual meeting.
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