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Sumner Redstone: Ceo Sumner Redstone
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Sumner Redstone, CEO of the embattled Viacom, is the featured speaker in the 'Moguls' column at Forbes.com. Despite being an octogenarian, Redstone impresses with his clear understanding of the world of content in the 21st century, according to the article's author, Louis Hau. Redstone's best takeaway quote: "If content is king, copyright is its castle." Raise the drawbridge and get the hot oil ready!
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Well, media mogul Sumner Redstone may now have that problem, thanks to his own effusiveness. Just two days ago, Redstone, who is the chairman of both CBS (CBS) and Viacom (VIAB), dubbed CBS CEO Les Moonves the “best executive in the media industry” during CBS’ earnings conference call.
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On Monday, Sumner Redstone fired Viacom's CEO, Tom Freston. Yesterday, Viacom announced that its Board of Directors had appointed Philippe Dauman President and CEO and Thomas Dooley Senior Executive V.P. and Chief Administrative Officer (a newly created position). Mr. Dooley's role is expected to be similar to that of a Chief Operating Officer. Both Dauman and Dooley are members of Viacom's Board of Directors.
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On Monday, Sumner Redstone fired Viacom's CEO, Tom Freston. This article looks at the firing and what it means for Viacom. Is Redstone reasserting his control over the cable properties once buried within the larger corporate behemoth that was Viacom (which then included CBS)? Where will the two new men at the top, Dauman and Dooley, take the company?
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[A]nnounced was the coming departure of chairman and CEO Sumner Redstone, who says he will be leaving within three years. Interestingly enough, Redstone considers Moonves, who has been the boss at CBS only since 2003, as leading a candidate as Freston to take over the chief executive spot. But keep on the lookout for ex-GE guy Jack Welch, who is on the hunt for a monstrosity of a company to take over.
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After reporting the company's second quarter earnings this morning, "a giddy Sumner Redstone, CBS's chairman, gushed about the performance of CBS and raved about the company's CEO Leslie Moonves. Redstone called Moonves 'the best executive in the media industry' and raved about the 'smart strategic moves' that CBS made to 'position itself in the digital landscape'..." Then he fired him. [CNN]
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