LOS ANGELES – Viacom Inc. says CEO Philippe Dauman’s compensation rose 22 per cent to $54.2 million in the company’s latest fiscal year, a period when its stock fell more than 40 per cent.
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 per cent compensation decline for Dauman when the signing bonus was not included.
Get weekly money news
READ MORE: Taxing stock options weakens Canada in ‘war for talent’: CEO
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 per cent to $2 million from $13 million in fiscal 2014.
- IBC estimates $230M in insured damage claimed from Edmonton storms
- Alberta First Nation sues Ottawa over $5 treaty annuity, argues amount stuck in 1899
- Jobs hang in the balance as Ekati diamond mine in N.W.T. closing early
- WestJet flight attendants hold information pickets as strike vote takes place
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.
Comments
Want to discuss? Please read our Commenting Policy first.