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  "docSlug": "3544dfcc3316",
  "documentTitle": "Viacom (VIAB)",
  "authorId": "18_SpringOwl",
  "authorName": "Eric Jackson",
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  "presentationDate": "2016-01-13 00:00:00",
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  "notes": "The slide uses a 'Too X' structure to categorize board failures.",
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      "kind": "callout",
      "text": "Viacom's Outside Directors' Median Pay Last Year (2014) was $314,000 - Higher Than Disney, Time Warner, Discovery, Fox , Scripps, and AMC.",
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      "text": "Too Old: Viacom has the Oldest Directors on Average Compared to Any of Their Media Peers at 66 (Except For CBS). The Average Viacom Director has Been on the Board for 8 Years.",
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      "text": "Too Large: Robert Kraft Recently (August 2015) Resigned from the Viacom Board, Leaving 11 Members. Even After Kraft's Resignation, this Makes it a Larger Board Than Disney's, Discovery's, AMC's And Netflix's.",
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      "text": "Too Cozy: We Believe Only 27% of Viacom Directors Can be Considered by Many as Truly Independent. ISS Said in Their Last Report That: 'Investors Generally Prefer That Independent Directors be a Substantial Majority of the Company's Board.'",
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      "text": "Too Overpaid Given Their Chronic & Relative Under Performance: Viacom's Outside Directors' Median Pay Last Year (2014) was $314,000 - Higher Than Disney, Time Warner, Discovery, Fox, Scripps, and AMC. Yet Viacom's 5 Year Stock Performance is the Worst Among its Media Peers Except for Scripps.",
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      "text": "director compensation: $314,000",
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      "text": "Investors Generally Prefer That Independent Directors be a Substantial Majority of the Company's Board. — ISS",
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      "text": "Note:1. As of October 2015. Source: SpringOwl Asset Management LLC",
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      "text": "Overpaid & Lackey Board",
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