CBS's Ianniello Gets Raise, $5 Million Bonus on Longer Contract

(Bloomberg) -- CBS Corp. handed acting Chief Executive Officer Joseph Ianniello a $5 million one-time payment and boosted his regular compensation as he agreed to remain in the post through the end of the year.

Ianniello will receive $3 million in salary and have a $15 million target bonus this year, according to a regulatory filing Friday. CBS said Tuesday it suspended its search for a new CEO, a move seen by some as buying time for the company to decide if it wants to merge with Viacom Inc.

Ianniello, formerly chief operating officer, was promoted to the role in September 2018 after the ouster of longtime boss Les Moonves, who was accused of sexual misconduct.

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