The new Paramount has laid out the employment contracts for its executive team led by chairman-CEO David Ellison and President Jeff Shell.
Both are starting today as the Skydance-Paramount merger closes with five year contracts that carry an annual base salary of $3.5 million, a target bonus of $1.5 million, and a one-time restricted stock grant valued at $75 million each that vests over five years under the company’s long-term incentive program.
Andrew Brandon-Gordon, EVP, Chief Strategy Officer and Chief Operating Officer, is coming in with a base salary of $2.8 million, a target bonus of $1.2 million, and a one-time restricted stock award valued at $60 million.
Outgoing Paramount Global executives including Brian Robbins and Chris McCarthy will collect severance payouts. An previous SEC filing had set payments “upon termination and other events” totaling $18.3 million for McCarthy and $18.6 million for Robbins.
That’s on top of their 2024 pay. George Cheeks, who is staying with the new company, McCarthy and Robbins collected $22.2 million, $19.5 million and $19.6 million, respectively for last year. The trio worked as co-CEOs since April when former chief Bob Bakish exited in the midst of deal talks.
The Paramount-Skydance merged closed formally earlier today.
