Joseph Ianniello

Last updated
Joseph Ianniello
Born
Joseph R. Ianniello

1968 (age 55–56)
Brooklyn, New York
Other namesJoe
Alma mater Pace University (BS)
Columbia University (MBA)
OccupationChairman of CBS Entertainment Group (2019-2020)

Joseph R. Ianniello is CEO and Chairman of Argus Capital Corp., a special purpose acquisition company. He is the former Chairman, President, and CEO of CBS Entertainment Group unit of ViacomCBS. [1]

Contents

Career

CBS

Ianniello started his career at CBS in 1997 as Director of Financial Planning. [2]

His next move within CBS was as its Vice President of Corporate Development from 2000 to 2005. At that position, Mr. Ianniello was in charge of all financial planning matters at CBS including investor relations. He became Senior Vice President of Finance and Treasurer of Viacom Inc. in July, 2005. During that time, he was involved in many of the mergers and acquisitions including the acquisitions of BET, Comedy Central and Sportsline. He was also involved in the divestiture of Blockbuster. [3]

In December 2015, he served as Senior Vice President of Finance and Treasurer of CBS Corporation. [4]

During the time since, he was Director of Entercom Communications Corporation, and Executive VP and Treasurer of CBS Radio Inc. [5] [6] In 2009, Ianniello served as CBS's Chief Financial Officer and Executive Vice President of CBS Corporation for four years, where he was responsible for the company's financial strategy across all of its operations. He was named COO of CBS Corporation in 2013.

In 2017, Ianniello signed a contract extension to June 30, 2022, a year longer than Chairman and CEO Les Moonves. [7] This is significant because, according to the New York Post, Ianniello was being poised to succeed Moonves as CEO at some point in the future. [8] [9] That contract extension includes a $70 million payout if his employment were to end by way of a merger. [10] [11] [12] [13] [14]

On September 9, 2018, CBS Corporation announced Moonves would be stepping down as CEO and announced Joe Ianniello as president and acting CEO. [15]

Ianniello's contract for his acting CEO role was extended by the board for six months in April 2019. [1] Under the contract extension, Ianniello's salary rises to $3 million, from $2.5 million. He will receive a $5 million cash signing bonus, and the extension guarantees him another $15 million bonus. [16]

In his role, Ianniello oversaw all CBS-branded assets under parent company ViacomCBS. [17] and strengthened the company's diversity and inclusion efforts. [18]

Joe exited his role on March 23, 2020, being replaced with NBCUniversal alum George Cheeks. [19]

CBS-Viacom bid involvement

At the time various CBS Board Members put together and submitted a bid to acquire Viacom, CBS had wanted Ianniello – CBS's then chief operating officer – to hold the same position at the new firm. [20]

Argus Capitol Corp.

On July 22, 2021, Ianniello filed a special purpose acquisition company named Argus Capital Corp. with the purpose of merging or acquiring other private companies in media, sports and entertainment sectors, according to the S-1 filing. [21] Argus Capital Corp. was looking to raise $300,000,000 through the share of 30 million shares at $10 per share. [22]

Boards of Directors

Ianniello serves on the Board of Trustees at Pace University, [23] the Board of Directors of the charitable organization Food Allergy Research & Education (FARE) [24] as well as New Alternatives for Children. [25] Previously, Ianniello has served as a director of CBS Outdoor Americas, Inc.

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References

  1. 1 2 Benjamin Mullin (April 23, 2019). "CBS Suspends CEO Search, Extends Ianniello as Acting Chief Until Year-End". The Wall Street Journal.
  2. ↑ Joe Lombardi (September 10, 2018). "CBS Names Pace University Grad As Interim President/CEO After Ouster Of Les Moonves". The Daily Voice.
  3. ↑ "Joseph R. Ianniello: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2018-06-27.
  4. ↑ Meg James (June 5, 2013). "CBS promotes Joseph Ianniello to chief operating officer". Los Angeles Times .
  5. ↑ Bloomberg
  6. ↑ "Entercom 2018 Proxy Statement" (PDF).
  7. ↑ Littleton, Cynthia (2017-07-24). "CBS Corp. Extends COO Joe Ianniello's Contract Through 2022". Variety. Retrieved 2018-06-25.
  8. ↑ "Joe Ianniello caught in crossfire of CBS feud". New York Post. 2018-06-02. Retrieved 2018-06-25.
  9. ↑ Anderson, Mae (2018-07-30). "CBS keeps Moonves in place during sexual misconduct inquiry". The Sacramento Bee. ISSN   0890-5738 . Retrieved 2018-07-30.
  10. ↑ "SEC Form 8-K filing (CBS Corporation)". www.sec.gov. July 20, 2017. Retrieved June 26, 2018.
  11. ↑ "CBS/Viacom Merger Caught Up in Management Roles – Media Play News". www.mediaplaynews.com. Retrieved 2018-06-27.
  12. ↑ "Joseph Ianniello Inks Deal to Remain COO at CBS Until 2022 | Hollywood Reporter". www.hollywoodreporter.com.
  13. ↑ "CBS extends CFO Ianniello's contract to 2022". FierceVideo.
  14. ↑ "Compensation Information for Joseph R. Ianniello, Former President and Acting Chief Executive Officer and Former Chairman and Chief Executive Officer, CBS business of ViacomCBS Inc. | Salary.com".
  15. ↑ "CBS chief quits after misconduct claims". BBC News. 2018-09-10. Retrieved 2018-09-10.
  16. ↑ Littleton, Cynthia (2019-04-26). "CBS Acting CEO Joseph Ianniello to Earn at Least $23 Million in 2019". Variety. Retrieved 2019-12-18.
  17. ↑ Cynthia Littleton (August 13, 2019). "ViacomCBS Merger: How Joe Ianniello Went From Odd Man Out to a Lofty Perch". Variety.
  18. ↑ Daniel Holloway (August 27, 2019). "CBS Chief Joe Ianniello Touts Reforms in Diversity and Inclusion Memo". Variety.
  19. ↑ Littleton, Cynthia (January 31, 2020). "NBC Alum George Cheeks to Take Reins of CBS as Joe Ianniello Exits".
  20. ↑ Benjamin Mullin and Cara Lombardo (August 2, 2019). "CBS, Viacom Reach Tentative Deal on Team to Lead Combined Company". The Wall Street Journal.
  21. ↑ SEC. "Argus Capital Corp. IPO Investment Prospectus S-1". SEC.report. Retrieved 2021-08-11.
  22. ↑ Weprin, Alex (2021-07-22). "Former CBS Execs, Led by Joe Ianniello, Launch $300M Media SPAC". The Hollywood Reporter. Retrieved 2021-08-11.
  23. ↑ "Office of the President | Board of Trustees | PACE UNIVERSITY". www.pace.edu. Retrieved 2018-06-27.
  24. ↑ "Food Allergy Welcomes".
  25. ↑ "New Alternatives for Children: About Us: Our People: Board of Directors". www.nackidscan.org.
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