Paramount Announces CEO Bob Bakish’s Exit as Merger Looms

Bob Bakish is stepping down as chief executive of Paramount Global, the company said Monday. The 60-year-old, who has spent nearly half his life at Paramount, is exiting amid ongoing talks regarding a merger deal with Skydance Media.

There are no immediate plans to replace Bakish. Instead, Paramount said that it would install an “Office of the CEO” made up of three division heads: Brian Robbins, Paramount Pictures CEO; George Cheeks, CBS CEO; and Chris McCarthy...