1. Viacom Names CEO Dauman as Chair as Redstone Exits; Daughter Protests

    Viacom Names CEO Dauman as Chair as Redstone Exits; Daughter Protests

    Viacom Inc's board of directors named Chief Executive Officer Philippe Dauman as executive chairman, replacing majority owner Sumner Redstone, overriding calls for an independent board chief from Redstone's daughter, who voted against Dauman. Viacom (VIAB.O) announced on Thursday that the ailing 92-year-old Redstone was becoming chairman emeritus, a day after CBS Corp (CBS.N) said Redstone, also ...

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    1. It raises questions about the board, corporate governance and fiduciary duties.
    2. Viacom's issues have not gone away and they still need to be tackled, but all the noise surrounding Sumner's situation has been taken out of the equation.
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