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CBS Corp. said it would suspend the months-long search it has conducted for a new leader for the company since the departure of Leslie Moonves and would instead extend the tenure of its acting chief, Joseph Ianniello, through the end of 2019.
“Joe has demonstrated exceptional leadership during this time of unprecedented transition at CBS. He steadied the ship with some key appointments and a commitment to cultural change, and steered it forward by focusing CBS’ operations around its growing direct-to-consumer strategy,” the company’s board of directors said in a statement. “We are very pleased to recognize Joe’s talents and efforts with this extension, and we look forward to all that he’ll continue to do to build on CBS’ remarkable momentum.”
Ianniello - Company - Officer - Reins - New
Ianniello had been the company’s chief operating officer prior to taking the reins of the New York owner of the CBS television network and the Showtime cable service after Moonves was ousted in September of last year. Moonves had been accused by several women of making unwanted sexual advances on them during his time as head of CBS’ entertainment operations. He has denied the allegations.
The board’s decision to cease its search for a different successor to Moonves comes as Wall Street expectations are growing that CBS is more willing to explore merging with Viacom, its sister company....
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