Viacom Execs Get Big Pay Hikes in 2010
Dauman Tops $84.5 M in Total Compensation in 2010
Mike Farrell -- Multichannel News, 1/22/2011 10:15:36 AM
Viacom CEO Philippe Dauman got a $50 million raise in 2010, as his total compensation ballooned to $84.5 million, fueled mainly by big gains in stock options and awards.
According to a proxy statement filed late Friday, Dauman's total compensation in 2010 was $84.5 million, up from the $34 million he earned in 2009. Fueling that 148.5% increase were $54 million in one-time stock options and awards. Without those one-time incentives, Dauman's 2010 compensation would have been $30.2 million, short of the $34 million he earned in 2009.
The one-time awards were part of a Dauman's annual base salary rose slightly in 2010 - to $2.625 million from $2.5 million - and his non-equity incentives decreased to $5.6 million in 2010 from $6.3 million in 2009.
In some cases, annual salary and bonus increases were lower in 2010 because Viacom shifted its fiscal calendar to end on Sept. 30, 2010, making it a 9-month fiscal year.
Viacom had a strong year in 2010 - domestic ad sales rebounded sharply in the third quarter and that strength was reflected in its sock price. Viacom's stock rose about 45% ($14.36 per share) in 2010, closing at $45.86 on Dec. 31.
Senior executive vice president and chief operating officer Tom Dooley also had a big year on the compensation front, earning a total of $64.7 million for the year, including about $41 million in one-time stock and option awards. Without those one-time awards, Dooley's total compensation would have been about $23.8 million.
Those awards were also part of a new employment deal Dooley signed in April, making the former chief financial officer COO.
Viacom chairman Sumner Redstone reported total compensation of $15.6 million for 2010, according to the proxy statement, below the $16.9 million he earned in 2009.
No related content found.
VIEW ALL GALLERIES
