Despite recent reports to the contrary, Sumner Redstone, who is chairman of both Viacom Inc. and CBS Corp., has a succession plan in place, according to Viacom Chief Executive Philippe Dauman, the Los Angeles Times reports. Dauman said that Redstone, 92, has established a trust to be overseen by seven trustees, including two of his family members and Dauman, once Redstone dies or is found to be mentally incompetent.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Dauman’s Viacom Appointment Sparks Uncertainty
- Ex Alleges Redstone Forged Signature
- Viacom CEO on Strategy and Sumner Redstone
- Lawsuit Alleges Sumner Redstone is Mentally Impaired
- Viacom: Redstone Replaced Despite Daughter’s Disapproval
- Judge: No Urgency to Determine Redstone’s Competency
- Viacom and CBS Face Shareholder Lawsuit
- So How is Redstone’s Health, Really?