New York CNN  —  Paramount Global on Monday parted ways with its chief executive, Bob Bakish, in a seismic move that sent reverberations through the media conglomerate as it actively engages in acquisition talks with Skydance Media. In place of Bakish, who led the company since controlling shareholder Shari Redstone reunited Viacom and CBS Corporation under one roof in 2019, will be a triumvirate of leaders: Brian Robbins, chief executive of Paramount Pictures; Chris McCarthy, chief executive of Showtime and MTV Entertainment Studios; and George Cheeks, chief executive of CBS. “The Board and I thank Bob for his many contributions over his long career, including in the formation of the combined company as well as his successful efforts to rebuild the great culture Paramount has long been known for. We wish him all the best,” Redstone said in a statement. The team of three leaders will guide the company in the interim as Paramount’s board negotiates a deal with Skydance, which is led by David Ellison, son of the billionaire Larry Ellison, ending the Redstone family’s control of the company, which has produced blockbuster franchises including “Top Gun,” “Star Trek” and “Transformers.” The relationship between Redstone and Bakish had become frosty in recent months, people familiar with the matter told CNN. Redstone and other board members took issue with the Bakish’s strategic decisions, including not offloading the premium cable channel Showtime and striking a deal to sell BET. This is a developing story and will be updated.