CBS Corp. has cut a new five-year employment contract with prexy and CEO Leslie Moonves.
Deal keeps Moonves at the helm of the Eye through February 2015. It replaces the existing pact that was to have expired in 2011.
"Leslie is a superb executive who has led CBS to a position of unparalleled leadership in the industry," CBS Corp. chairman Sumner Redstone said in announcing the deal. "This agreement not only secures the future of the company for many years to come, it also further aligns and strengthens the interests of the chief executive with those of our shareholders."
CBS said Moonves' salary will remain at its current level, though he is entitled to bonuses and other incentives.
via www.variety.com
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