Sunday, April 17, 2011

CBS CEO Moonves’ Pay Jumped To $57 Million In 2010

By Joseph Tartakoff

CBS (NYSE: CBS) CEO Leslie Moonves’ total compensation in 2010 jumped to a staggering $57.7 million, up from $43 million in 2009, according to the company’s latest proxy statement. That’s still below the huge $67.7 million payday he received in pre-recession 2007, but from the footnotes in the filing it appears that the company’s board was nevertheless very pleased with Moonves’ performance last year.

CBS CEO Les Moonves
The company’s board says it gave Moonves a $20 million payment “for the successes in his role” and another special cash payment of $7.5 million “for his leadership in connection with the creation of premium content across the Company’s portfolio of businesses, particularly with respect to the CBS Television Network, which outperformed its media peers in 2010.” Most of the remainder of the total comes from stock awards, although he also received $2.5 million in tax reimbursements and $262,707 in “transportation-related benefits.”

His colleagues, including executive chairman Sumner Redstone, also did just fine. Redstone’s compensation totaled $20.3 million, which included a $10 million cash bonus.

The details (Click to enlarge):

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