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CBS names Richard Parsons interim chairman of board

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CBS names Richard Parsons interim chairman of board
FILE PHOTO: The CBS broadcasting logo is seen outside the CBS Broadcast Center in Manhattan, New York, U.S., July 30, 2018. REUTERS/Shannon Stapleton   -   Copyright  Shannon Stapleton(Reuters)
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(Reuters) – CBS Corp <CBS.N> on Tuesday named Richard Parsons, a former Time Warner Inc chief executive, as interim chairman of its board as the company renews its push to merge with Viacom Inc <VIAB.O>.

Shari Redstone, who with her father Sumner Redstone controls both CBS and Viacom, wants to recombine the media companies after failing to do so in 2016.

“Dick Parsons has a combination of deep industry knowledge and unmatched corporate and board experience,” Candace Beinecke, chair of the board’s nominating and governance committee, said in a statement.

Parsons, 70, led Time Warner as chief executive officer from 2002 to 2007 and as chairman from 2003 to 2009. He has also served as chairman of Citigroup and as an interim CEO of the Los Angeles Clippers.

The former Time Warner CEO’s appointment to his new role comes less than a month after the resignation of Leslie Moonves amid a new wave of allegations of sexual assault and harassment.

Moonves stepped down as chairman, chief executive officer and president of CBS on Sept. 9.

The media company also said Bruce Gordon and William Cohen, who have served on its board since CBS became a standalone public company in 2006, have decided to step down from their posts to focus on other personal and professional priorities.

(Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Leslie Adler and Lisa Shumaker)

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