NEW YORK--(BUSINESS WIRE)--
Viacom Inc. (NASDAQ:VIAB, VIA) today announced that it has extended the
employment agreement of President and Chief Executive Officer Philippe
Dauman through December 31, 2018. The extension adds two years to
Dauman's previous contract, which ran through December 31, 2016.
Viacom President and CEO Philippe Dauman (Photo: Business Wire)
Sumner M. Redstone, Executive Chairman and Founder of Viacom, said,
"Philippe has been my long-term partner in building Viacom into the
global entertainment powerhouse that it is today. He has been an
extraordinary CEO over more than eight years and his strategic vision
and creative leadership have delivered consistently outstanding
operational and financial results. I am delighted that Philippe has
agreed to lead Viacom well into the future."
Frederic V. Salerno, Chair of the Compensation Committee of the Viacom
Board of Directors, said, "Under Philippe's capable leadership, Viacom
has excelled during a time of great change. He is an outstanding
strategic and operational executive, and we are confident that he will
continue to lead Viacom to new levels of success in the years to come."
Under the terms of the new agreement, Dauman's base salary will remain
unchanged and he will continue to be eligible for performance-based
compensation and equity awards.
Dauman was named President and Chief Executive Officer of Viacom in
September 2006 and has been a member of the Company's Board of Directors
since 1987. Prior to becoming CEO, Dauman served in several positions at
Viacom, including Deputy Chairman and Executive Vice President. He is a
director of National Amusements, Inc. and Lafarge S.A., a Board member
of the National Cable and Telecommunications Association, a member of
the Academy of Motion Picture Arts and Sciences, and Co-Chair of The
Partnership for New York City.
About Viacom
Viacom is home to premier global media brands that create compelling
television programs, motion pictures, short-form video, apps, games,
consumer products, social media and other entertainment content for
audiences in more than 165 countries and territories. Viacom's media
networks, including MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick
Jr., TeenNick, Nicktoons, Nick at Nite, Comedy Central, TV Land, SPIKE,
Channel 5 (UK), Tr3s, Paramount Channel and VIVA, reach approximately
700 million television subscribers worldwide. Paramount Pictures,
America's oldest film studio, is a major global producer and distributor
of filmed entertainment.
For more information about Viacom and its businesses, visit www.viacom.com.
Keep up with Viacom news by following Viacom's blog at blog.viacom.com
and Twitter feed at www.twitter.com/viacom.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150115006254/en/
Viacom Inc.
Jeremy Zweig, 212-846-7503
Vice President,
Corporate Communications
and Corporate Affairs
jeremy@viacom.com
Source: Viacom Inc.
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