Bonuses up for top Viacom execs

Dauman's overall pay falls from 2010

Viacom CEO Philippe Dauman’s fiscal 2011 compensation totaled $43 million including a $3.5 million base salary and hefty $20 million cash bonus — up from $11 million the year before, according to a filing with the Securities and Exchange Commission late Friday. The balance was paid in stock and stock options.

His overall pay fell from $84 million in 2010, when Dauman was the highest paid CEO in corporate America.

Chief operating officer Thomas Dooley earned $34 million: his base salary of $2.5 million plus a $16 million bonus that was nearly double the year-earlier figure.

And the company’s billionaire controlling shareholder, Sumner Redstone, received $21 million in compensation with a $1.75 million base salary and a $10 million bonus, also nearly double the 2010 bonus.

Viacom said in the filing that “the goal of our compensation programs is to make sure that we have the talented executives and employees we need to achieve our strategic plans and deliver financial returns to stockholders over the short term and long term. To do that, we need to attract and retain great managers and employees and compensate them in a way that encourages and rewards their performance.”

Viacom’s fiscal year ends Sept. 30. The company said it will hold its annual shareholders’ meeting at its New York City headquarters on March 8.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More News from Variety

Loading