Paramount Chief Financial Officer Naveen Chopra to Exit
Paramount Chief Financial Officer Naveen Chopra to Exit

Paramount Chief Financial Officer Naveen Chopra to Exit

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Paramount Chief Financial Officer Naveen Chopra to Exit

Paramount Global’s chief financial officer Naveen Chopra is exiting to pursue other opportunities. He will be replaced in the interim by Andrew Warren, who is the former CFO of Discovery Communications. Chopra notified the company of his decision to resign effective June 27. He is the latest executive to depart as Paramount continues to await regulatory approval of its pending $8 billion merger with Skydance Media. The media giant is also fending off a $20 billion lawsuit against CBS from President Donald Trump over an Oct. 7 “6o Minutes” interview with former vice president Kamala Harris. The deadline for the deal to close has been pushed back another 90 days to Oct. 4, if it doesn’t close by July 6, the deadline will be automatically pushed back to July 6 again if the deal isn”t closed by Oct. 1, according to the latest proxy filing with the Securities and Exchange Commission. It is not the result of any disagreement with the company and its board of directors.

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Paramount Global’s chief financial officer Naveen Chopra is exiting to pursue other opportunities, the media giant revealed in an 8-K filing with the U.S. Securities and Exchange Commission on Monday.

The executive will be replaced in the interim by Andrew Warren, who currently serves as strategic advisor to the Office of the CEO and is the former CFO of Discovery Communications.

Chopra notified the company of his decision to resign effective June 27. It is not the result of any disagreement with the company and its board of directors, including on matters relating to operations, policies, accounting practices or financial reporting, per the filing.

“We thank Naveen for his leadership role during a dynamic period of transformation and growth,” Paramount co-CEOs George Cheeks, Chris McCarthy and Brian Robbins said in a statement. “We are excited to partner with Andy, who has been our strategic advisor, in his new, expanded role as interim CFO and we are confident that his deep financial expertise and familiarity with our business make him exceptionally well-suited to step into this position.”

As CFO, Chopra oversaw Paramount’s financial operations, including treasury, tax, accounting, investor relations, information security and real estate, as well as global corporate development and strategy.

Prior to joining ViacomCBS, he served as the CFO of Amazon’s devices and services business, overseeing Alexa and Echo, FireTV, Ring, Kindle and the Amazon app store. Before Amazon, he was CFO of Pandora Media, where he ran finance, corporate development, music licensing, business development, investor relations, real estate and chief information officer functions. During his tenure, he led a major corporate turn-around, which led to the company’s acquisition by SiriusXM for $3.5 billion.

He also served in a variety of roles at TiVo, including interim CEO, CFO and head of corporate and business development, helping to guide the company through multiple phases of growth and transformation leading to Rovi’s acquisition of the company, as well as business development roles at Microsoft and Hewlett Packard and early-stage venture-backed companies like WebTV, Ofoto and Rearden Steel.

From 2014 to 2020, Chopra also served as a board member at Vonage Holdings, a multi-billion-dollar cloud-communications company. He is currently a member of the board of KQED, one of the nation’s largest public media organizations.

Warren, who joined Paramount in 2024, previously served as chief financial officer of STX Entertainment from 2017 to 2023. Before that, he was senior executive vice president and chief financial officer of Discovery Communications from 2012 to 2017. He also previously served as CFO of Liz Claiborne as well as NBCU Television Group.

Chopra is the latest executive to depart as Paramount continues to await regulatory approval of its pending $8 billion merger with Skydance Media. The media giant is also fending off a $20 billion lawsuit against CBS from President Donald Trump over an Oct. 7 “6o Minutes” interview with former vice president Kamala Harris.

FCC chairman Brendan Carr has argued that Paramount’s settlement talks with Trump are unrelated to the agency’s review of the Skydance deal. But he has warned that “all options remain on the table” in the agency’s ongoing investigation into allegations of “news distortion,” including potentially revoking CBS’ broadcast license if the network is found to have violated the agency’s public interest standard. As part of that investigation, CBS News turned over transcripts and video footage from the Harris interview.

The Skydance deal recently triggered its first automatic 90-day extension after failing to close by April 7. If the deal is not closed by July 6, the deadline will be automatically pushed another 90 days to Oct. 4. After that, if the deal is still not closed, Skydance and Paramount will have the option of terminating the deal.

In 2024, Chopra received total compensation of $8.78 million, including a $1.4 million base salary, $3.84 million in stock awards, $3.52 million in non-equity incentive plan compensation and $23,240 in “other” compensation, which included company contributions to his 401(k) and profit sharing plan, as well as company-paid life insurance.

Under a non-change in control (CIC) qualifying termination, Chopra is eligible to receive $7.89 million, per the company’s latest proxy filing. Under a CIC qualifying termination, he would receive $12.1 million.

Source: Thewrap.com | View original article

Source: https://www.thewrap.com/paramount-chief-financial-officer-naveen-chopra-exit/

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