Viacom CEO Philippe Dauman's pay falls by $10 million
US-VIACOM-CEOCOMPENSATION:Viacom CEO Philippe Dauman's pay falls by $10 million
(Reuters) - Viacom Inc, parent of cable networks MTV and Nickelodeon and movie studio Paramount Pictures, paid Chief Executive Philippe Dauman about $10 million less in 2012 than a year earlier, a regulatory filing showed.
Dauman was paid $33.4 million in the year ended September 30, about 22 percent less than the $43.1 million he earned in fiscal 2011. (http://link.reuters.com/kek55t)
In 2010, he was paid $84.5 million in cash and stock, making him the highest-paid corporate executive in the United States.
Viacom has been facing challenges at MTV and Nickelodeon, which are in a ratings slump.
In the regulatory filing, Viacom said its fiscal 2012 results "reflected both the global economic slowdown and ratings challenges at several of our cable television networks."
The company said it achieved operating income growth of 5 percent compared with a year earlier, and a 21 percent increase in diluted earnings per share from continuing operations.
On Friday, Viacom shares gained 0.8 percent to close at $59.02 on the Nasdaq.
(Reporting by Sruthi Ramakrishnan in Bangalore and Lisa Richwine in Los Angeles; Editing by Supriya Kurane, Bernard Orr)