Paramount Global has announced a major shakeup in its leadership structure, with the ouster of CEO Bob Bakish and the appointment of a new “Office of the CEO” led by Brian Robbins, Chris McCarthy, and George Cheeks. In a memo to employees, the trio expressed gratitude to Bakish for his tenure at the company while signaling a new strategy ahead.
The three executives will work closely with the Paramount board and CFO Naveen Chopra to finalize a long-term plan that will position the company for success in a rapidly changing world. The memo emphasized the importance of collaboration, respect, and a shared love for Paramount Global and its content.
The news comes as Paramount is in negotiations with potential buyer groups, including David Ellison’s Skydance, RedBird Capital, and KKR, as well as private equity firm Apollo and Sony Pictures. These discussions could potentially result in Paramount remaining public but with new executives at the helm, or being taken private in a merger with Sony and Apollo.
Despite the uncertainty surrounding the company’s future, the new leadership team is focused on moving forward with purpose, passion, and a commitment to long-term success. Employees can expect more updates in the coming days, including a town hall to address any questions or concerns.
As Paramount enters this new chapter, the company remains optimistic about the opportunities ahead and the potential for growth and innovation under the guidance of Robbins, McCarthy, and Cheeks.
