View full page at forexfactory.com

 

CBS Chief Will Get $100 Million Severance and Still Keep His Job

From bnnbloomberg.ca

CBS Corp. acting Chief Executive Officer Joe Ianniello is in line for a hefty haul when Viacom Inc. completes its proposed merger with the broadcast network. While he won’t get to lead the combined entity, he’ll collect $100 million severance and remain chief of CBS with a new contract entitling him to tens of millions of dollars more. The arrangement illustrates the extent of CBS’s effort to persuade Ianniello, a 22-year company veteran, to support the tie-up without having a shot at the top job. It’s yet another example of the extravagant compensation practices of the billionaire Redstone family, which controls ... (full story)

Story Stats

  • Posted:
  • Category: Entertainment News