CBS Corp. chief operating officer Joe Ianniello will be sticking around Black Rock through mid-2022 thanks to a new contract that took effect this month.
CBS disclosed in a Securities and Exchange Commission filing that Ianniello has set a contract extension that runs through June 30, 2022 — one year longer than the contract extension recently set with his boss, CBS Corp. chairman-CEO Leslie Moonves. Ianniello has been a key Moonves lieutenant since the company split from Viacom in 2006.
CBS has also extended the contract of Lawrence Tu, senior exec VP and chief legal counsel. Tu’s pact runs through May 31, 2019.
Ianniello’s deal calls for his base salary to remain $2.5 million a year for the first two years. His paycheck will rise to $2.75 million annually for the remainder of the term. His target bonus and stock compensation will grow accordingly.
Ianniello was upped to the COO post in 2013 after serving as chief financial officer. As COO he oversees operations and all financial matters for the Eye. He’s been with CBS and before that Viacom for more than 15 years.
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