Bob Bakish would step down as president and CEO of Paramount Global. His departure is expected to be announced this Monday the 29th, when the company’s financial results for the first quarter of this year are presented.
According to deadline, this would be because Shari Redstone, majority shareholder and CEO of Paramount, is not satisfied with the strategic moves that Bakish made recently, such as the decision not to get rid of Showtime, the aborted sale of BET and his refusal to merge with Skydance Media and RedBird Capital, which has been in discussion for months. Also present in this panorama are Sony Pictures and Apollo Global Management, who are thinking of making an offer to buy Paramount soon, since the negotiation deadline with Skydance expires on May 3.
Bakish, who has been with the company for more than 25 years, was named CEO and president of ViacomCBS in 2019. In 2022, he was promoted to CEO and president of Paramount. It would not be known if there is a replacement, although there are stipulations that a committee of senior executives would be assembled while the mergers or sales are completed.
