Salaries Rise for Top Viacom Executives
Both Sumner Redstone, the chairman and chief executive of media conglomerate Viacom Inc., and Mel Karmazin, its president and chief operating officer, saw their salaries rise and bonuses fall in 2003, according to a statement filed with securities regulators.
Viacom said Redstone and Karmazin each received salaries of $3.99 million and bonuses of $15 million in 2003. Both received salaries of $3.63 million and bonuses of $16.5 million in 2002.
Both also were granted options on 800,000 shares of Class B common stock at an exercise price of $44.08 a share. Those shares closed down 38 cents at $40.24 on the NYSE.
From Reuters
* Wal-Mart Stores Inc. raised Chief Executive H. Lee Scott’s 2003 salary, bonus and other pay by 26% to $5.74 million, a regulatory filing showed.
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