Bob Bakish is stepping down from his role as President and CEO of Paramount Global.

In his place, Paramount Global has established an Office of the CEO, consisting of three senior company executives: George Cheeks, President and CEO of CBS; Chris McCarthy, President and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, President and CEO of Paramount Pictures and Nickelodeon.

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George Cheeks, CBS; Chris McCarthy, Showtime/MTV Entertainment Studios and Paramount Media Networks; Brian Robbins, Paramount Pictures and Nickelodeon

News of the executive change at Paramount Global comes as the company is in the middle of talks with David Ellison’s Skydance Media about a possible merger.

Bakish joined Viacom in 1997 and took on roles of increasing seniority across the company’s operations, becoming CEO of Viacom in 2016 and CEO of the combined Viacom and CBS Corporation, which became Paramount Global, in 2019.

Shari Redstone, Chair of the Paramount Global board, said: “Paramount Global includes exceptional assets and we believe strongly in the future value creation potential of the Company. I have tremendous confidence in George, Chris and Brian. They have both the ability to develop and execute on a new strategic plan and to work together as true partners. I am extremely excited for what their combined leadership means for Paramount Global and for the opportunities that lie ahead.”

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Redstone added: “The Board and I thank Bob for his many contributions over his long career, including in the formation of the combined company as well as his successful efforts to rebuild the great culture Paramount has long been known for. We wish him all the best.”

Cheeks took over in March 2020 as President and Chief Executive Officer of CBS. He is also the Chief Content Officer, News and Sports, for Paramount+, along with the responsibility for BET, Paramount Television Studios and the company’s free-to-air networks in the United Kingdom, Australia, Argentina and Chile.

McCarthy oversees Paramount Global brands including: Paramount, Showtime, MTV, Comedy Central and Smithsonian, as well as Showtime/MTV Entertainment Studios which produces shows including Yellowstone, Emily in Paris, South Park, RuPaul’s Drag Race, Billions, Dexter: Origins and The Daily Show with Jon Stewart.

As President & CEO of Paramount Pictures, Robbins oversees the filmed entertainment division’s creative strategy and worldwide business operations whose output includes Transformers, Sonic the Hedgehog, A Quiet Place, Mission Impossible, Scream, Teenage Mutant Ninja Turtles and PAW Patrol.

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