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        <title><![CDATA[Outgoing CBS CEO Joe Ianniello Gets a $125M Parting Gift]]></title>
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            <media:title type="html">Outgoing CBS CEO Joe Ianniello Gets a $125M Parting Gift</media:title>
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        <content:encoded><![CDATA[<p>Talk about a golden parachute.</p><p>Former CBS Corp. Chief Executive Officer Joe Ianniello nabbed an eye-popping $125 million in total compensation and severance payments from ViacomCBS in 2019.</p><p>Ianniello, who announced he was stepping down in January, was the head of CBS, <strong>which merged with sister company</strong>, Viacom last December, to form ViacomCBS.</p><p>News of Ianniello&#8217;s princely compensation was part of the company&#8217;s annual filing with the Securities &amp; Exchange Commission, Friday evening.</p><p>The filing shows he netted a salary of $2.8 million and $84.7 million in severance payments provided for via an employment contract drawn up during the reign of disgraced CBS chairman and CEO Les Moonves, who <strong>resigned in Sept. 2018 </strong>amid sexual harassment allegations.&nbsp; Under that contract, Ianniello, who had been Moonves&#8217; right-hand man, was promised a windfall if he was not promoted to CEO of the entire company after Moonves.</p><p>It was previously reported that Ianniello would <strong>net about $70 million linked to those promises</strong> for a total compensation of $100 million. Friday&#8217;s filing shows the haul was even larger than previously anticipated, including stock awards valued at $37.4 million.</p><p>The filing also reveals that Bob Bakish, the Viacom chief who was named CEO of ViacomCBS, received $8.4 million in total compensation last year. This included $230,000 in salary, $3.1 million in bonuses and $5 million in stock awards.</p>]]></content:encoded>
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