Former Spotify, Conde Nast and CW executive Dawn Ostroff is set to join the board of directors for Paramount Global in May.
Ostroff is poised to join the board as an independent director at Paramount Global’s annual meeting on May 8. Incumbent board members Candace Beinecke and Ronald Nelson will not stand for re-election at that meeting, which will bring the number of board members to 11, including Ostroff.
Meanwhile, in the annual proxy statement filed Friday with the Securities and Exchange Commission, Paramount disclosed that the 2022 compensation for CEO Bob Bakish climbed to $32 million last year, from $20 million in 2021. Bakish’s haul last year was inflated by $16 million in stock awards. The cash bonus portion of his compensation was $12.9 million, down from 2021’s $16.8 million. He also earned $3.1 million in regular salary.
“We are thrilled to welcome Dawn to Paramount’s Board at such an exciting moment in our evolution,” said Paramount Global chair Shari Redstone. “We believe her leadership, diverse expertise in content strategy and her long track record of driving transformation will prove invaluable as we seek to continue building on the success of Paramount’s global multiplatform strategy.”
More to come