Michael J. Dolan To Leave Viacom
November 10, 2006 at 6:02 AM (PT)
More changes at the top of VIACOM, as Exec. VP/CFO MICHAEL J. DOLAN will leave at the end of this year. Sr. Exec. VP/CAO THOMAS DOOLEY will take on the additional duties of CFO following DOLAN's departure.
This change comes not long after the departure of VIACOM CEO TOM FRESTON back in SEPTEMBER (NET NEWS 9/5).
DOLAN said, "I came to VIACOM for the opportunity to help lead a newly minted public company out of the gate, and the challenge of setting it on a strong financial path. I am proud that we have accomplished these goals and that VIACOM is very well-positioned financially to prosper and succeed. I leave with the knowledge and confidence that the company has all the capabilities and the resources it needs to move ahead under the very able leadership of PHILLIPE DAUMAN. I am looking forward to working with PHILLIPE and TOM over the coming weeks to ensure a smooth hand-off of all financial operations."
"MIKE made an invaluable contribution to Viacom during an important period in its history," added DAUMAN. "His input and counsel since I became CEO have been extremely valuable. He has been an energetic and talented advocate for the company in the financial markets and I look forward to working with him through the rest of the year. All of us at VIACOM thank him for his contributions, and we wish him all the best in the future."