Annual Meeting: May 21, 2015
In our report CBS was the 4th most overpaid CEO. The regression analysis estimated that his excess level of pay was over $54 million. This year’s pay was down slightly, with total compensation of $57,175, 645, but considering the magnitude of his pay – and the fact that stock price fell by more than 12% — he remains overpaid. His pay works out to more than $28,000 per hour assuming a normal work week. Even assuming that he works 16 hours a day, 7 days a week, only pausing to sleep, his rate would still be near $10,000 per hour.
The compensation committee used its discretion to award Moonves, who owners 6,766,664 shares, 548,546 stock options “to reward his success in creating significant shareholder value and to motivate him to continue these efforts.”
An excellent analysis of industry pay found Moonves was 2nd high paid among the highly paid media executives. http://deadline.com/2015/05/media-executive-compensation-2014-list-all-time-high-1201409190/.
Author David Lieberman noted that a disproportionate amount of total pay goes to Moonves. He calculated that, “Moonves accounted for 51.6% of the $110.8 million in compensation CBS earmarked for its top five executives. He made 5.2 times the median for his closest colleagues.”