Paramount Global Unveils New Leadership

In a surprising turn of events, Bob Bakish, President and CEO of Paramount Global, has announced his decision to step down from his role as CEO and from the Board of Directors. This move marks the end of Bakish’s long and successful career with the company, dating back to 1997 when he joined Viacom.

To fill the void left by Bakish’s departure, Paramount Global has established an Office of the CEO, comprising three seasoned executives: George Cheeks, Chris McCarthy, and Brian Robbins. These individuals bring a wealth of experience and success in leading various business units within Paramount Global.

The Board of Directors expressed their confidence in the new leadership team, highlighting their track record of success and their ability to drive growth and innovation within the company. The Office of the CEO will work closely with the Board and CFO Naveen Chopra to develop a strategic plan aimed at accelerating growth, streamlining operations, and optimizing the company’s streaming strategy.

Shari Redstone, Chair of the Board, praised the new leadership team, emphasizing their ability to work together as true partners and execute on a new strategic plan. She expressed excitement for the future of Paramount Global under their guidance.

In response to Bakish’s departure, Redstone thanked him for his many contributions to the company, including his efforts in rebuilding Paramount’s culture and forming the combined company. She wished him all the best in his future endeavors.

Overall, the announcement of Bob Bakish stepping down and the appointment of the new Office of the CEO signals a new chapter for Paramount Global, with a focus on growth, innovation, and value creation.