NEW
YORK, March 17, 2023 /PRNewswire/
-- Paramount Global (NASDAQ: PARA, PARAA) (the "Company")
today filed its proxy statement and announced changes to its Board
of Directors (the "Board"), including the addition of Dawn Ostroff as an independent, non-executive
director, pending a stockholder vote at Paramount's 2023 Annual
Meeting of Stockholders, which will be held on Monday, May 8, 2023.
Ms. Ostroff is an accomplished media & entertainment
industry executive, with extensive experience across content
development, multiplatform distribution and advertising. She most
recently served as Chief Content and Advertising Business Officer
at Spotify from 2018 to 2023, where she oversaw the company's music
and audio content business as well as the platform's global
advertising business. Prior to Spotify, she co-founded Condé Nast
Entertainment ("CNE") and served as President of CNE from 2011 to
2018. Before joining CNE, Ms. Ostroff was President of
Entertainment for The CW broadcast network and President of United
Paramount Network, a former subsidiary of Paramount.
"We are thrilled to welcome Dawn to Paramount's Board at such an
exciting moment in our evolution," said Shari Redstone, Chair of Paramount's Board of
Directors. "We believe her leadership, diverse expertise in content
strategy and her long track record of driving transformation will
prove invaluable as we seek to continue building on the success of
Paramount's global multiplatform strategy."
In addition, Candace Beinecke and
Ronald Nelson, who have served as
non-executive directors to Paramount and its predecessor companies
since 2018 and 2016 respectively, will not stand for re-election at
the Company's 2023 Annual Meeting of Stockholders.
"We are deeply grateful to Candace and Ron for their years of
dedicated service and partnership," Redstone continued. "Their
guidance and expertise were instrumental in navigating key
milestones and evolving the Company to compete and lead in today's
media landscape."
With the changes announced today, the Paramount Board will
comprise eleven members, with eight members serving as independent
directors, pending a stockholder vote at Paramount's 2023 Annual
Meeting of Stockholders. All of the nominees except Ms. Ostroff
were elected at Paramount's 2022 Annual Meeting of
Stockholders.
About Paramount
Paramount Global (NASDAQ: PARA, PARAA) is a leading global
media, streaming and entertainment company that creates premium
content and experiences for audiences worldwide. Driven by iconic
consumer brands, Paramount's portfolio includes CBS, Showtime
Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central,
BET, Paramount+ and Pluto TV. Paramount holds one of the industry's
most extensive libraries of TV and film titles. In addition to
offering innovative streaming services and digital video products,
the company provides powerful capabilities in production,
distribution, and advertising solutions.
For more information about Paramount, please visit
www.paramount.com and follow @ParamountCo on social platforms.
PARA-IR
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SOURCE Paramount Global