India, April 29 -- Paramount Global (PARA, PARAA) reported that its first quarter net loss attributable to the company narrowed to $554 million or $0.87 per share from $1.12 billion or $1.74 per share in the same quarter last year.
In addition, Paramount Global announced that Bob Bakish, President and chief executive officer, is stepping down from his role as chief executive officer, and from the Board of Directors.
The company said that, to lead and oversee the company moving forward, it has established an Office of the CEO, consisting of three senior company executives: George Cheeks, President and CEO of CBS; Chris McCarthy, President and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, President...