secwatch.observer — SEC 8-K summary
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Issuer:     Paramount Global (—)
CIK:        0000813828
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0000813828-24-000023
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paramount Global CEO Robert Bakish Steps Down; Office of CEO Formed with Three Executives
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- Robert Bakish resigns as President & CEO and from Board, effective April 30, 2024.
- Board establishes Office of the CEO: George Cheeks (CBS), Chris McCarthy (Showtime/MTV), Brian Robbins (Paramount Pictures).
- Chris McCarthy designated interim principal executive officer effective May 1, 2024.
- Bakish to serve as Senior Advisor through Oct 31, 2024, then termination without cause with severance.
- Bakish retains 2.5X severance multiple under CIC Plan if change in control within 6 months after separation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813828/000081382824000023/0000813828-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813828/000081382824000023/para-20240429.htm
  HTML page:      https://secwatch.observer/filing/0000813828-24-000023

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