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Paramount CEO Bob Bakish is out, trio of execs to take helm

Paramount Global CEO Bob Bakish (PARA, PARAA) is stepping down, as was widely expected. He will be replaced by a trio of executives in what will be called the Office of the CEO.

The news came as the media giant posted mixed first quarter results, with revenue of $7.69 billion falling just shy of the expected $7.74 billion. Adjusted earnings per share of $0.62 topped the estimate of $0.36.

Yahoo Finance's Julie Hyman and Josh Lipton break down the report.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Stephanie Mikulich.