Richard Parsons Named Interim Board Chairman at CBS Corp.

Exec is former CEO of Time Warner
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In the wake of the dismissal of chairman and CEO Les Moonves, CBS named Richard Parsons as interim chairman of the board of directors.

CBS’s board unanimously approved the appointment.

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“Dick Parsons has a combination of deep industry knowledge and unmatched corporate and board experience,” said Candace Beinecke, chair of CBS’ Nominating and Governance Committee. “We are fortunate to have Dick in this leadership role.

Parsons was chairman and CEO of Time Warner until 2007. He is also a former chairman of Citigroup and former interim CEO of the Los Angeles Clippers.

Moonves was removed as he battled the Redstone family for control of the company and was the subject of allegations that he sexually harassed and assaulted women over the course of his career.

After his removal, several new directors were added to the CBS board.

“We have a distinguished and independent Board that is steadfast in its commitment to serve the best interests of all shareholders,” said Parsons. “I think I speak for all Board members when I say I look forward to learning more about CBS’ compelling opportunities and how we can help guide and support the Company’s growth.”

CBS also said that two long time directors, Bruce Gordon and William Cohen will step down from their posts, citing other personal and professional priorities.

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