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(Reuters) – CBS Corp (CBS.NOn Tuesday, Richard Parsons, former Managing Director of Time Warner Inc., was named interim chairman of its board of directors as the company renews its merger policy with Viacom Inc. (VIAB.O).
PHOTO FILE: Richard Parsons speaks at a forum entitled "Beyond the prime time, the media will help grow healthy children" in New York on February 6, 2007. REUTERS / Chip East / File Photo
Shari Redstone, who with his father Sumner Redstone controls both CBS and Viacom, wants to consolidate media companies after failing in 2016.
"Dick Parsons combines in-depth knowledge of the industry with unparalleled corporate and board experience," said Candace Beinecke, Chair of the Nominating and Governance Committee of the Board, in a statement.
Mr. Parsons, 70, led Time Warner as Managing Director from 2002 to 2007 and President from 2003 to 2009. He was also President of Citigroup and Acting CEO of the Los Angeles Clippers.
The appointment of Time Warner's former CEO to his new role comes less than a month after Leslie Moonves stepped down amid a new wave of sexual assault and harassment.
Moonves stepped down as President, CEO and President of CBS on September 9th.
The media company also said Bruce Gordon and William Cohen, who have served on its board since CBS became a stand-alone public company in 2006, have decided to leave their positions to focus on other personal priorities. and professional.
Report by Aakash Jagadeesh Babu in Bengaluru; Edited by Leslie Adler and Lisa Shumaker
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