CBS extends Moonves contract for two years
Details
Michelle Clancy
| 23 May 2017

CBS Corp has extended the tenure of CEO and TV industry stalwart Leslie Moonves whose new contract means that he will now stay on until 30 June 2021.

Moonves’s annual salary will remain at its current level, totalling $3.5 million. Contract provisions regarding annual bonus payments and other long-term incentives aren’t changing with the extension either.

The contract also stipulates that the 67-year-old Moonves can became a senior advisor to CBS after that, for up to five years — and, if he chooses, he can establish a production company with CBS’s support.

Moonves has been the president and CEO of CBS since its 2006 spin-off from Viacom — and is also the broadcaster’s board chairman.