Viacom slashes Sumner Redstone’s pay

Viacom has slashed the pay of founder and executive chairman Sumner Redstone in the face of questions about his competency and the company’s performance.In a statement late Wednesday, Viacom said Redstone still received his typical $2 million salary in 2015, but was no longer eligible to receive a bonus or stock in the company. His total compensation in 2014 was $13 million. That amounts to an 85% pay cut.CEO Philippe ...