By After being rumored over the weekend, Bob Bakish is now officially out as CEO of Paramount Global, the company announced on Monday. His exit comes after nearly three decades at Paramount Global and Viacom.
Three of the company’s divisional heads will take over Bakish’s duties via what’s being dubbed the ‘Office of the CEO’.
Those three are the current CEO and presidents of CBS (George Cheeks), Paramount Pictures and Nickelodeon (Brian Robbins), and Showtime/MTV & Paramount Media Networks (Chris McCarthy).
Bakish has agreed to remain employed with the company as a senior advisor to the end of October. Paramount Global announced the executive changes as it reported first-quarter 2024 results.
Bakish’s removal is being seen as potentially accelerating the finalisation of a merger deal between Paramount and Skydance Media. The parties have an exclusive bargaining window that expires this Friday.
Source: PR Newswire
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