Poor Leslie Moonves. The head of CBS Corp saw his total compensation drop 15% last year by $8.8 million.
Moonves, 65, grew up in a Jewish family in New York City and his total compensation fell to $57.2 Million, from $66 million the year before. Poor guy! However will he be able to make ends meet this year? Maybe he will have to cut back on those grande lattes at Starbucks and have to settle for only tall sized ones.
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The executive’s compensation came from a base salary of $3.5 million and $14.5 million in stock awards. His bonus dropped by 12% from 2013, to a measly $25 million, because CBS shares fell about 13%.
Just last year Moonves signed a two year extension with CBS. He has also been making moves to try and take over the company after the soon expected departure of its current owner Sumner Redstone who is 92 years old. Moonves was reported to have been enlisting investors to support a takeover bid.
Moonves isn’t the only one who is suffering. CBS Chairman Redstone only received $10.8 million last year and got no new stock or option awards. This came to a $46.3 million drop from the $57.1 million which the corporate titan earned from CBS in 2013.
Leslie Moonves is President and Chief Executive Officer of CBS Corporation, He oversees all operations of the Company, including the CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), CBS Television Studios, CBS Global Distribution Group (CBS Studios International and CBS Television Distribution), CBS Consumer Products, CBS Home Entertainment, CBS Films, CBS Interactive, Showtime Networks, CBS Sports Network, Pop (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio and CBS EcoMedia.