New York, N.Y., USA - February 5, 2016, New York, N.Y., USA - Viacom Inc. announced that it has appointed Sumner M. Redstone to the newly created position of chairman emeritus.
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Mr. Redstone is Chairman Emeritus of the CBS Corporation and Chairman of the Board of Viacom. He served as Executive Chairman of CBS until February 2016.
He assumed his roles as Executive Chairman of both companies after the separation of Viacom into two publicly traded companies, which occurred in January 2006. Mr. Redstone is the controlling shareholder of both companies.
Prior to that, Mr. Redstone had served as Chairman of the Board of Viacom since June 1987 and Chief Executive Officer of Viacom since January 1996. He became Chairman of the Board of Viacom when National Amusements, Inc. acquired a controlling interest in the New York-based company.
Mr. Redstone began his career as Law Secretary with the U.S. Court of Appeals, and then served as a Special Assistant to the U.S. Attorney General. Subsequently, he was a partner with the law firm of Ford, Bergson, Adams, Borkland and Redstone in Washington, D.C.
Mr. Redstone’s education began at Boston Latin School, where he graduated first in his class. In 1944, after studying for two and one-half years at Harvard College, he was awarded a degree by Harvard University’s Special Board of Overseers. In 1947, Mr. Redstone received his LL.B. from the Harvard University School of Law.
The Board also elected Viacom CEO and President Philippe Dauman Executive Chairman, succeeding Mr. Redstone in that role.
Mr. Dauman was named President and Chief Executive Officer of Viacom Inc. in September 2006 and has served on the Company's Board of Directors since 1987.
Previously, Mr. Dauman was Co-Chairman and Chief Executive Officer of DND Capital Partners, L.L.C., a private equity firm specializing in media and telecommunications investments, from May 2000 until September 2006.
Prior to co-founding DND Capital Partners, Mr. Dauman served in several positions at Viacom, including as a Deputy Chairman and Executive Vice President of Viacom Inc. Mr. Dauman is a director of National Amusements, Inc. and LafargeHolcim, a building materials company. ■