Tony Ambrosio, a 30+-year veteran of CBS’s Human Resources team who presently serves as CBS Corp.’s Sr. EVP/Chief Administrative Officer and Chief Human Resources Officer, has agreed to a new four-year deal with the company that sees his base salary jump by 43%.
The new agreement also sees Ambrosio’s target bonus for each calendar year stay at 125% of his annual base salary.
Additionally, he will continue to be eligible to receive annual awards under the company’s long-term incentive plan, as determined by the Compensation Committee of CBS Corp.’s Board of Directors of the Company, with an increased target value equal to 185% of his annual base salary, beginning in January.
Ambrosio’s new deal took effect Sept. 29, and extends his tenure at CBS Corp. until Sept. 28, 2020. He will see a salary increase from $875,000 to $1.25 million.
Thanks to a $1.26 million bonus, Ambrosio’s annual compensation in 2015 was $2,135,000.
Ambrosio joined CBS in March 1985 in Recruitment and Placement, and held increasingly senior Human Resources positions in Compensation, Policy, HRIS and Benefits functions.
Prior to the merger of CBS Corp. with Viacom in May 2000, he served as VP/Human Resources of CBS Corp. After the merger, Ambrosio was named SVP/Human Resources & Administration for CBS, Infinity Broadcasting and Viacom Outdoor.
Following both the CBS/Westinghouse merger in 1995 and the CBS/Viacom merger in 2000, Ambrosio played a key role in the efforts to integrate people, benefits programs, policies and compensation plans, as well as evaluating and implementing the many dozens of acquisitions, swaps and divestitures made in the years following the Westinghouse merger.
Ambrosio “celebrated” his raise and contract extension by making a little bit of money of Wall Street on Tuesday (Oct. 4). According to an SEC Filing, Ambrosio acquired 15,120 shares of CBS Class B common stock at the deeply discounted price of $13.43 per share, spending $203,061.60 for the stock. The purchase came as Ambrosio exercised an employee stock option right to buy.
He then sold the shares during the same trading session, at a market value of exactly $55.6236 per share — taking in $841,028.83 and enjoying a $637,967.23 profit.
