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Paramount Global CEO Bob Bakish’s Pay Drops to $20 Million in 2021

He made $38.9 million in 2020 and did not receive a cash bonus or new stock awards this year

Paramount Global CEO Bob Bakish made $20 million in 2021, a drop from when he made $38.9 million the year prior.

Bakish’s pay was disclosed in an SEC filing on Friday for Paramount Global, formerly ViacomCBS. Bakish did not receive a bonus in 2021 or receive any new stock awards, and his total pay came from $3.1 million in salary and $16.8 from a non-equity incentive plan.

Unlike other media conglomerates, ViacomCBS did not cut the salaries of its executives in 2020 as the pandemic took hold, though most of his earnings that year came from stock awards in what was ViacomCBS’ full first year.

Similarly, CFO Naveen Chopra’s pay dipped from $11.2 million in 2020 to $4 million last year. General counsel and secretary Christa A. D’Alimonte’s pay dropped from $5.9 million to $3.2 million. Doretha (DeDe) F. Lea’s, EVP of global public policy and government relations, pay dipped from $3.1 million to $2 million. And Chief People Officer Nancy Phillips’ pay went from $3.6 million in 2020 to $1.8 million in 2021.

Paramount also disclosed in the filing that both Lea and Phillips had their contracts extended, so the two will remain with the company until 2025.

Paramount’s executives in February announced its rebrand from ViacomCBS with an all-in dedication to streaming and a heavy focus on spinoffs and expansions of existing properties and Paramount brands, and it also made Paramount+ the pay TV window for all Paramount Pictures movies.

The media conglomerate’s global streaming subscribers in 2021 grew to more than 56 million, and its free streaming service Pluto TV boasted more than 64 million monthly users at the end of 2021.

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