- Associated Press - Friday, January 22, 2016

LOS ANGELES (AP) - Viacom Inc. says CEO Philippe Dauman’s compensation rose 22 percent to $54.2 million in the company’s latest fiscal year, a period when its stock fell more than 40 percent.

The disclosure in a securities filing Friday includes a $17 million contract-renewal bonus that the company didn’t mention in a pre-release of executive pay details Wednesday. Viacom’s early release of pay information showed a 16 percent compensation decline for Dauman when the signing bonus was not included.

The New York-based owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures pre-released the executive pay data after a shareholder lawsuit alleged company was overpaying controlling shareholder Sumner Redstone. It showed Redstone’s compensation in fiscal 2015, which ended in September, declined 85 percent to $2 million from $13 million in fiscal 2014.

The company’s full executive compensation report came out in the regulatory filing Friday.

Redstone, 92, is embroiled in a legal battle in Los Angeles brought by his former caregiver after control of his personal care was handed over to Dauman. On Friday, the judge in that case ordered Redstone undergo a new examination of his health and mental capacity.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide