NEWS
01/22/2016 20:15 EST | Updated 01/22/2017 00:12 EST

Viacom CEO pay rose 22 per cent in year stock tumbled

LOS ANGELES — Viacom Inc. says CEO Philippe Dauman's compensation rose 22 per cent to $54.2 million in the company's latest fiscal year, a period when its stock fell more than 40 per cent.

The disclosure in a securities filing Friday includes a $17 million contract-renewal bonus that the company didn't mention in a pre-release of executive pay details Wednesday. Viacom's earlier statement showed a 16 per cent compensation decline for Dauman when the signing bonus was not included.

The New York-based owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures pre-released executive pay data after a shareholder lawsuit alleged company was overpaying controlling shareholder Sumner Redstone. It showed Redstone's compensation in fiscal 2015, which ended in September, declined 85 per cent to $2 million from $13 million in fiscal 2014.

The Associated Press