PARAMOUNT GLOBAL ANNOUNCES AD SALES LEADERSHIP TRANSITION

Rhea-AI Summary

Paramount Global has appointed Jo Ann Ross as Chairman of Paramount Advertising after 30 years at the company. John Halley, previously EVP and COO of Advertising, steps in as President, leading the sales across Paramount's media portfolio. Ross will continue to provide strategic advice to ensure a smooth transition. Under Halley's leadership, innovations have enhanced advertising effectiveness. Both leaders have notable industry experience, with Ross recognized as a trailblazer, and Halley credited for driving digital advertising growth.

Positive

• Jo Ann Ross's appointment as Chairman ensures continued strategic leadership and expertise.
• John Halley's promotion as President is expected to drive innovation and growth in advertising.

Negative

• Ross's transition from day-to-day operations may raise concerns about leadership continuity.
• Halley's previous role was in operations; market reaction to the new strategic direction led by him remains uncertain.

Jo Ann Ross Appointed to New Advisory Role as Chairman, Paramount Advertising

John Halley Promoted to President, Paramount Advertising, Succeeding Ross to Lead National Sales Across the Company's Expansive Media Portfolio of Linear and Streaming Brands

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NEW YORK, Sept. 13, 2022 /PRNewswire/ -- Paramount Global (NASDAQ: PARA, PARAA) today announced that Jo Ann Ross is being named Chairman, Paramount Advertising, following 30 remarkable years at the company. John Halley, who previously served as Executive Vice President and Chief Operating Officer, Advertising, will succeed Ross as President, Paramount Advertising, overseeing the company's domestic multiplatform sales efforts across its leading portfolio of broadcast, cable, digital and streaming assets. He will report to Bob Bakish, President and Chief Executive Officer of Paramount, effective immediately.

As Chairman, Ross will continue to provide her expertise and experience in a strategic advisory role to ensure a smooth transition.

"Jo Ann is a true trailblazer in our industry and a dominant force behind the success of CBS, ViacomCBS, and now Paramount Global," said Bakish. "As the world of entertainment has evolved, Jo Ann has been on the forefront of advertising innovations that have been instrumental to establishing Paramount as a trusted partner and must-buy for advertisers everywhere. Her talent and passion for this business is only matched by her exceptional ability to lead through change, building talented teams and enduring client relationships throughout her illustrious career. She has made an indelible mark on Paramount during her record tenure, and we are grateful for her continued contributions."

Bakish continued: "John is a proven leader and visionary who has driven innovations in Paramount's advertising business that have set the pace for the entire industry for years. His deep understanding of both the linear and digital businesses, and the underlying forces driving their change, has guided key advancements in our advertising products and empowered us to deliver better outcomes for our clients. Given the rapid pace of evolution in advertising, John is ideally suited to lead Paramount's sales organization forward."

Ross joined CBS in 1992 as Vice President of Olympic Sales and rose to become the first woman to serve as sales chief of a broadcast network and the longest tenured sales head in broadcast television. She shepherded transformative advertising practices for the industry that instituted the company's first-mover advantage and sustained market-leading position, from creating new ways to sell network programing and genre-defining franchises to successfully adapting to the advent of digital video and streaming platforms. Along the way, her sharp wit, ingenuity and steadfast commitment to her team and clients became a hallmark of her superlative leadership — including leveraging the company's expansive portfolio and massive footprint to advance diversity and inclusion. 

As a result, Ross has been recognized with innumerable industry awards and accolades throughout her groundbreaking and storied career. In November, she will accept the prestigious Center for Communication's Frank Stanton Award, honoring individuals who not only achieve great success in the business, but who also serve as tireless advocates for a more equitable industry. She serves on the board of directors of the John A. Reisenbach Foundation, the Ad Council, the VAB, the International Radio and Television Society, and FourBlock. She also supports Memorial Sloan Kettering's Cycle for Survival to accelerate progress in rare cancer research.

Halley joined Viacom in 2007 and has led commercial and business operations in various roles for Viacom, ViacomCBS and now Paramount's advertising efforts over the last 15 years. He has worked closely with Ross to unify the sales team post-merger and drive a go-to-market strategy that has been integral to the company's extraordinary digital advertising growth. Halley's continual focus on innovation and ad effectiveness over the years has led to multiple product introductions, including the development of Vantage, the industry's leading audience targeting platform; the launch of EyeQ, Paramount's scaled, multi-billion dollar connected TV ad product; and the creation of OpenAP, the advanced activation platform for the convergent video marketplace that enables scale and transactional simplicity for new currencies. Halley currently serves as Chairman of OpenAP and is a board member of Blockgraph, the IAB, and the VAB. He is also Chairman of the New York Chapter of the March of Dimes and a board member of Literacy Inc.

About Paramount

Paramount Global (NASDAQ: PARA, PARAA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic studios, networks and streaming services, Paramount's portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. Paramount delivers the largest share of the U.S. television audience and boasts one of the industry's most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution, and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

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SOURCE Paramount Global

FAQ

What recent leadership changes occurred at Paramount Global?

Jo Ann Ross was named Chairman of Paramount Advertising, while John Halley was promoted to President, succeeding Ross.

What is Jo Ann Ross's role following her new appointment?

Jo Ann Ross will serve as Chairman, providing strategic advisory support to ensure a smooth leadership transition.

How long did Jo Ann Ross work at Paramount Global?

Jo Ann Ross has worked at the company for 30 years.

Who will John Halley report to in his new role?

John Halley will report to Bob Bakish, President and CEO of Paramount.

What impact might John Halley's promotion have on advertising at Paramount?

John Halley's promotion may drive innovations and improvements in Paramount's advertising strategies.