In a filing lodged with the SEC on 3 March, Viacom confirmed that it would continue to pay Mr Fricklas’ salary ‘at the rate in effect on the date of termination for 24 months after the termination date.’ According to the most recent salary figures released by the company, this will in practice translate into around $2.6m being paid to Mr Fricklas over the course of two years while he is no longer employed by the company.

Management overhaul

With around $6.4m in total compensation last year, Mr Fricklas sits comfortably within the 20 highest paid general counsel in the United States, according to industry publication Bloomberg BigLaw Business. His impending departure comes as part of a management shake-up at the company being overseen by vice chairman Shari Redstone, whose father is Viacom’s controlling shareholder. Mr Redstone’s recent decision to surrender his vote on Viacom’s board of directors has significantly expanded Ms Redstone’s influence over strategic decisions at Viacom. Mr Fricklas’ exact departure date has not been announced, nor has his successor. Sources: Bloomberg BigLaw Business; Australasian Lawyer