Bob Bakish, acting president and Chief Executive Officer of Viacom Inc.
The Board of Directors of Viacom Inc. announced that it has discontinued the exploration of a potential combination with CBS following receipt of National Amusements’ letter and request, and dissolved the Special Committee that was formed to evaluate a potential transaction. It has appointed Bob Bakish as president and Chief Executive Officer and as a member of the Board, effective immediately.
Bakish has served as acting president and Chief Executive Officer of Viacom since November 15. He has held leadership positions throughout the organization since joining in 1997, most recently serving as President and Chief Executive Officer of Viacom International Media Networks prior to his acting CEO role.
“In Bob’s short time as acting president and CEO he has impressed the Board of Directors with the decisive steps he has taken. He has moved quickly to deliver upon the mandate given to him – to maximize Viacom’s potential as a strong, growing and independent company. We have great confidence in Bob’s strategic vision and his ability to move forward aggressively to position Viacom for the future,” said Tom May, Chairman of the Board.
Bob Bakish, president and Chief Executive Officer, said, “I am honored to be chosen by the Board to lead Viacom, its world-class brands and exceedingly talented people. I believe unequivocally in this company and its potential to create new opportunities and drive greater value as our business evolves and our industry transforms. We’ve been working very quickly to mobilize the organization, reenergize our culture and address our areas of greatest need. I look forward to continuing to work closely with the Board and our team to build on this momentum, and will share more on our plan and path forward in the New Year.”
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