Viacom International Media Networks Names David Lynn CEO
He replaces Bob Bakish, the new head honcho of the whole company
Tony Maglio | January 11, 2017 @ 6:20 AM
Last Updated: January 11, 2017 @ 6:30 AM
Viacom's David Lynn
Viacom has appointed David Lynn as president and CEO of its International Media Networks (VIMN).
He was already president of the group’s operations in the UK, Northern and Eastern Europe. Now Lynn will officially have oversight of all of Viacom’s media networks and related businesses outside the United States.
Lynn, who will be based in London, reports direction to new Viacom president and CEO Bob Bakish, who, he replaces internationally.
“Viacom’s international business has grown strongly over the last decade and our operations managed out of the UK, under David’s leadership, have been integral to that growth,” Bakish said. “David has an outstanding track record at the helm of our UK business, including leading our successful acquisition and integration of Channel 5, and I have great confidence in his ability to conceive and deliver an even more ambitious growth strategy for VIMN in the years ahead.”
“This is an exciting time to be taking the reins, with VIMN having a vital role to play in Bob’s plans for accelerating Viacom’s growth and maximizing its potential,” Lynn stated. “Viacom has must-see content, unrivaled global reach across TV and some of the world’s most digitally active and socially influential entertainment brands; I believe we have very strong foundations and a clear blueprint for future international growth and I look forward to working with Bob and the rest of the team at VIMN to deliver it.”
Lynn was an executive vice president at VIMN since 2007. The segment’s 200-plus branded TV channels reach a cumulative 3.9 billion subscribers across more than 180 countries and broadcasting in more than 40 languages.
Golden Parachutes: See How Much These 10 Execs Got Paid to Leave (Photos)
Philippe Dauman, Marissa Mayer and Michael Ovitz are among a handful of entertainment and tech executives who were handed handsome sums of money while they were being forced out the door. (Please note: All totals are from SEC filings and other official sources.)
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Name: Philippe Dauman Company: Viacom Payday: $72 million Sumner Redstone's former protege -- and for years, one of America's highest-paid CEOs -- took home $72 million as part of a settlement that will see him depart the embattled media company in September.
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Name: Roger Ailes Company: Fox News Payday: $40 million Ailes left the news network he essentially built after a lawsuit filed by a former Fox News anchorwoman led to an investigation, and several other women coming forward accusing Ailes of sexual assault. Ailes resigned two weeks after the lawsuit was filed and received $40 million.
Fox News
Name: Michael Ovitz Company: The Walt Disney Company Payday: $140 million Not a CEO, the co-founder of Creative Artists Agency made $140 million in less than a year's work as the executive president of Disney, when he was fired by then-CEO Michael Eisner, triggering a severance package that was built into his deal -- and which Disney shareholders unsuccessfully tried to have returned in court.
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Name: Carly Fiorina Company: Hewlett-Packard Payday: $21 million The former Republican presidential candidate -- and Ted Cruz's presumptive running mate -- pocketed $21 million when she was forced to resign after orchestrating a disastrous acquisition of Compaq.
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Name: Marissa Mayer Company: Yahoo Payday: $55 million Mayer hasn't yet committed to leaving, but she's widely expected to depart the top job after Yahoo agreed to be purchased by Verizon for $4.8 billion. Mayer is guaranteed $55 million in severance if she loses her job or if there is a change in control.
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Name: Henrique de Castro Company: Yahoo Payday: $58 billion It turns out there is actually a good time to get fired: Mayer canned de Castro, Yahoo's chief operating officer, in 2014, but his heavily stock-based severance package was worth a robust $58 million, as Yahoo's stock had swelled at the time due to its ownership interest in Chinese e-commerce giant Alibaba.
YouTube
Name: Tom Freston Company: Viacom Payday: $85 million Freston, Dauman's precedessor and the man who essentially built MTV, was fired by Redstone in 2006. One of the biggest reasons: his failure to buy MySpace, which News Corp. eventually sold in 2011 for a $545 million loss.
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Name: Rob Marcus Company: Time Warner Cable Payday: $93 million Time Warner Cable was acquired by Charter Communications earlier this year, making his CEO job redundant. Marcus walked away with nearly $100 million after two-and-a-half years of work.
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Name: Jack Welch Company: General Electric Payday: $417 million GE's pugnacious boss scored the granddaddy of all severance packages, walking away with a monster deal that only became public during a divorce settlement that mandated the disclosure of his retirement benefits.
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Name: Amy Pascal Company: Sony Payday: Four-year production deal, valued at $40 million Pascal, whose personal emails were exposed as a result of the Sony hack landing her in hot water regarding references to President Obama -- was fired as co-chair of Sony's film division in the wake of the scandal. She got a production deal -- not uncommon for high-level studio execs -- that has her attached to some of the studio's biggest franchises, including "Spider-Man" and "Ghostbusters."
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Philippe Dauman is the second consecutive Viacom CEO to walk away with a monster severance package
Philippe Dauman, Marissa Mayer and Michael Ovitz are among a handful of entertainment and tech executives who were handed handsome sums of money while they were being forced out the door. (Please note: All totals are from SEC filings and other official sources.)
Getty Images
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