CBS Chief Will Get $100 Million Severance and Still Keep His Job – Bloomberg

CBS Corp. acting Chief Executive Officer Joe Ianniello is in line for a hefty haul when Viacom Inc. completes its proposed merger with the broadcast network.

While he won’t get to lead the combined entity, he’ll collect $100 million severance and remain chief of CBS with a new contract entitling him to tens of millions of dollars more.

It’s yet another example of the extravagant compensation practices of the billionaire Redstone family, which controls both Viacom and CBS and has for years heaped money on executives at a rate rivaling Silicon Valley’s tech giants.

via CBS Chief Will Get $100 Million Severance and Still Keep His Job – Bloomberg

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