Paramount’s cloudy futureThe boardroom intrigue at Paramount Global — the drama that has gripped the corporate world — just got messier.
Bob Bakish is out as C.E.O., replaced by three subordinates who will form an “office of the C.E.O.” His departure caps a year of rising tension between him and Shari Redstone, Paramount’s controlling shareholder, who is pushing for a deal with David Ellison’s Skydance.
Bakish’s exit removed an executive who didn’t support that transaction, but it doesn’t resolve all of the big questions hanging over the company’s future.
Why Bakish was pushed out: Redstone picked the low-profile company veteran to lead Paramount after years of internal strife, but they still ended up clashing.
Persons:
Bob Bakish, ”, Shari Redstone, David Ellison’s Skydance, Bakish
Organizations:
Paramount Global, Redstone, Paramount