Paramount Global CEO Bob Bakish has officially stepped down from his role atop the company, the entertainment giant announced Monday. He will remain with the company as a senior advisor through Oct. 31 to help ensure a seamless transition of his duties.
Following Bakish’s departure from his role as CEO and from the board of directors, three senior executives will take leadership over Paramount Global moving forward: George Cheeks, CBS CEO and president; Chris McCarthy, Showtime/MTV Entertainment Studios and Paramount Media Networks CEO and president; and Brian Robbins, Paramount Pictures and Nickelodeon CEO and president.
“Paramount Global includes exceptional assets and we believe strongly in the future value creation potential of the company,” Paramount non-executive chair and controlling shareholder Shari Redstone said in a statement.