Add Philippe Dauman to the list of Big Media CEOs signing contract extensions. The Viacom chief will stay at least to the end of 2018, up from his previous contract which ran to the end of 2016, the company says. His base salary will be unchanged, but he will be eligible for performance-based compensation and equity. Dauman’s compensation in 2013 totaled $37.2 million.
“Philippe has been my long-term partner in building Viacom into the global entertainment powerhouse that it is today,” says Chairman Sumner Redstone. “He has been an extraordinary CEO over more than eight years and his strategic vision and creative leadsership have delivered consistently outstanding operational and financial results. I am delighted that Philippe has agreed to lead Viacom well into the future.”
Viacom shares have appreciated 138.5% from September 6, 2006 — when he took control. Over the same period the S&P 500 appreciated 89.2%.
Dauman’s extension follows similar announcements for Disney’s Bob Iger and CBS’ Les Moonves.