TITLE

Paying for Performance

AUTHOR(S)
Farrell, Mike
PUB. DATE
October 2006
SOURCE
Multichannel News;10/2/2006, Vol. 27 Issue 39, p40
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the move Viacom Inc., to revise the compensation agreement of its chairman, Sumner Redstone to one that more accurately reflects its stock performance. The move comes after Redstone and other Viacom executives were criticized for their lavish compensation agreements in one year when the company's stock price decreased more than 17 percent. Redstone's target cash bonus under the company's short-term incentive plan will be reduced from $6.1 million to $3.5 million per year.
ACCESSION #
24973051

 

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