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Viacom CEO Bob Bakish Earned $20.3 Million in 2017

Viacom president-CEO Bob Bakish took in $20.3 million in salary, bonus and stock compensation for 2017, according to Viacom’s proxy filing Friday with the Securities and Exchange Commission.

The filing details that Bakish earned $2.77 million in salary and a $7 million bonus last year. He received another $5.8 million in stock awards and $4.7 million in stock options. The contract he signed in December 2016 to become Viacom’s permanent CEO runs through Dec. 31, 2019, according to the filing.

The filing also details the whopping $53.6 million paid in severance to former Viacom COO and CEO Thomas Dooley last year. Dooley served as interim CEO of Viacom from September through November of 2016. For 2017, he earned $426,385 in salary and $53.2 million in “other compensation.” In 2016, Dooley was also given a retention payment of $4.37 million, in addition to $27.9 million in salary, bonus and stock awards, according to the filing.

Viacom’s annual meeting has been set for March 8 at the company’s Times Square headquarters.

Bakish’s compensation package puts him on the low end for CEOs of public media giants. In 2016, Leslie Moonves of CBS Corp., a corporate sibling of Viacom in the Redstone family holdings, raked in $69.9 million. Disney chief Bob Iger earned $43.6 million, Brian Roberts of Comcast took in $28.6 million and Time Warner’s Jeff Bewkes grabbed $32.6 million.

Beyond Bakish, Viacom’s highest-paid corporate execs are chief financial officer Wade Davis ($6.5 million) and Scott Mills ($6.5 million), the former chief administrative officer who last month moved to BET as president of Viacom’s BET Networks.

The filing also disclosed that Ken Lerer, managing partner at Lerer Hippeau and co-founder of Huffington Post, will not stand for re-election. Lerer was among the five board members recruited in 2016 as Viacom controlling shareholders Sumner Redstone and Shari Redstone waged a legal battle with former CEO Philippe Dauman for control of the company and the trust that will control Sumner Redstone’s Viacom and CBS shares after his death.

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