Paramount announced Monday that its president and CEO, Bob Bakish, was resigning and being replaced by a trio of executives.
Bakish is leaving the entertainment studio as major shareholder Shari Redstone moves closer to selling her majority stake in the company.
David Ellison’s Skydance Media is considering buying Paramount.
For now, three leaders: CBS chief George Cheeks; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Nickelodeon boss Brian Robbins will run the company as the “CEO’s Office.”
“The Office of the CEO is working with the Board of Directors to develop a comprehensive long-term plan to accelerate growth and expand popular content, significantly streamline operations, strengthen the balance sheet and continue to optimize strategy streaming service,” Paramount’s board of directors said in a statement. A declaration. “The Board of Directors has great confidence in the leaders who comprise the Office of the CEO, all of whom are senior creative executives and business leaders with a proven track record of leading meaningful businesses within Paramount Overall.
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