Viacom Ex-CEO Got $58M Just to Go Away
Top Viacom Execs Earned $139.9M In Compensation in 2016
WHAT YOU NEED TO KNOW:
- Ex-CEO Philippe P. Dauman departed Viacom on August 18, 2016.
- Ex-CEO Phillippe P. Dauman received a “Separation Payment” of $58 Million when he left Viacom in August. It was part of his $93 Million compensation package for 2016. He didn’t even work there all year.
- Thomas Dooley was promoted to Viacom CEO when Dauman left. Dooley served as CEO until resigning himself on November 15, 2016. His compensation package totaled $27.9 Million.
- Viacom provided $139.9 Million in Executive Compensation in 2016. But only SIX top executives benefited from these packages.
- Viacom’s Executive Compensation in 2016 was UP 35% from 2015.
- Meanwhile, earnings for TV Writer-Producers are DOWN 25%, based on median earnings from 2013–2014 to 2015–2016, according to the WGA.
- The WGA’s Financial Asks from the “Big Six” Media Companies are estimated to total $117 Million Per Year. ( The “Big Six” companies are CBS, Comcast, Disney, Fox, TimeWarner, & Viacom)
- Collectively these “Bix Six” Media Companies provided approximately $725 Million in Executive Compensation in 2016. Only 33 individuals benefited from these compensation packages.
- The Writers Guild of America has about 12,000 members. The guild is seeking Fair Pay & Benefits in its negotiations against the AMPTP, the trade association representing these “Big Six” media companies.
For More Details on Viacom’s Executive Compensation, please check out this Executive Compensation table pulled from the company’s own S.E.C. filings: