"Shell will receive about $5 million in cash severance, including his $3.5 million salary and $1.5 million target bonus, the company told investors on Thursday."
"He received restricted stock units valued at $75 million last August that were scheduled to vest each year."
"Paramount said in a statement announcing Shell's departure that it 'followed standard practice' and had a law firm perform 'a complete and thorough review' of Cipriani's allegations."
"Shell previously was the chairman of RedBird Sports and Media and the CEO of NBCUniversal, where he was fired for cause after facing allegations of sexual misconduct."
Jeff Shell is departing from Paramount Skydance, receiving a severance package of approximately $5 million, which includes his salary and target bonus. He will also benefit from accelerated vesting of restricted stock units valued at $75 million. Shell's resignation comes as he faces a $150 million lawsuit from whistleblower RJ Cipriani, who claims Shell disclosed sensitive information. Paramount stated that a thorough review found no securities law violation in Cipriani's allegations. Shell has a history of controversy, having previously been fired from NBCUniversal for misconduct.
Read at www.businessinsider.com
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