CBS Names Richard Parsons Interim Chairman, Two Members Leave Board -- Update

   By Josh Beckerman 
 

CBS Corp. (CBS) has named former Citigroup Inc. chairman Richard Parsons as interim chairman of the board.

The company also said board members Bruce Gordon and William Cohen "have decided to step down from their posts to focus on other personal and professional priorities."

The company said the board "unanimously adopted a resolution to express its thanks and appreciation to Messrs. Gordon and Cohen for their long and dedicated service to CBS, and to wish them well on their future endeavors."

Mr. Parsons was one of six new CBS directors announced on Sept. 9 in connection with a settlement with controlling shareholder National Amusements Inc.

Concurrent with the settlement, CBS Chairman and Chief Executive Leslie Moonves resigned amid accusations that he sexually harassed and assaulted numerous women over his career. Mr. Moonves said "untrue allegations from decades ago" were made against him.

Mr. Parsons is known for his stewardship of Time Warner Inc. as chairman and chief executive after the media company's much-criticized 2000 merger with America Online Inc. He was named Citigroup Inc. (C) chairman in 2009.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

September 25, 2018 19:54 ET (23:54 GMT)

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