Sumner Redstone To Step Down From Viacom Board In February
December 16, 2016 at 9:38 AM (PT)
SUMNER REDSTONE will step down from the VIACOM Board of Directors in FEBRUARY, the company announced TODAY (12/16). REDSTONE, 93, will give up his seat following VIACOM's annual meeting FEBRUARY 6th in NEW YORK CITY. He will continue to attend board meetings in a "non-voting role" as Chairman Emeritus, the position which he assumed last FEBRUARY after giving up his Executive Chairman role.
Earlier this week, REDSTONE and daughter SHARI REDSTONE called off a proposed VIACOM merger with CBS. The elder REDSTONE was also hit with allegations from former companion SYDNEY HOLLAND that he had paid $18 million to a flight attendant on a CBS corporate jet then paid $6 million more to her sister after having an affair with her. VIACOM vet BOB BAKISH was officially named to the President/CEO post earlier this week after serving as Interim CEO since the departure of PHILIPPE DAUMAN.