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Paramount Will Allow Its 3 Co-CEOs to Resign and Receive Severance If They Are Demoted
Paramount co-CEOs George Cheeks, Chris McCarthy and Brian Robbins will be able to quit and receive severance benefits if they are demoted.
In addition, Cheeks, McCarthy and Robbins were each awarded a grant of $3 million worth of restricted share units of Paramount’s Class B common stock under the company’s latest long-term incentive plan as of Oct. 8, 2024. In addition, the board granted each of the three execs an annual target bonus of $2.75 million, prorated to apply only to the portion of the current fiscal year in which they serve in the Office of the CEO. Shell has said Skydance, working with consulting firm Bain & Co., is aiming to achieve at least$2 billion in annualized cost synergies at Paramount.
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