CBS chief Leslie Moonves’ 2009 compensation totals $43.2 million
CBS Corp.'s not-so-undercover boss, Leslie Moonves, was awarded a total compensation package of $43.2 million for 2009, according to the company’s regulatory filings Friday.
The amount includes $3.5 million in base salary plus a $15-million bonus. The 60-year-old chief executive also received stock worth $7.6 million and stock options presently worth about $14.3 million.
CBS also gave Moonves nearly $2.4 million to reimburse him for a portion of the New York state and local taxes that he paid. Moonves maintains homes in Los Angeles and New York.
Moonves’ total package for 2009 was more than double what he was awarded in 2008 when the company’s stock dropped precipitously. In 2008, the package was $21.2 million. No stock options were granted that year.
CBS, which includes the CBS network, TV and radio stations and premium channel Showtime, defended Moonves’ compensation.
“More than 85% of Mr. Moonves’ compensation is keyed to performance-based measures, ensuring that its actual value will continue to be closely aligned with that of the company’s shareholders,” the company said in a statement.
CBS’ controlling shareholder and chairman, Sumner Redstone, collected $16.2 million for 2009. Redstone, who turns 87 next month, garnered an additional $16.8 million in compensation for his role as chairman of his other company, Viacom Inc., according to a separate filing. Between the two companies, Redstone collected $33 million in compensation.
Viacom Chief Executive Philippe Dauman’s total compensation for 2009 was slightly more: He was awarded a total package of $34 million.
Viacom owns the Paramount Pictures movie studio and such cable channels as MTV, VH-1, Comedy Central, BET, TV Land and Nickelodeon.