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Viacom's Summer Redstone on Himself
With Viacom's recently announced plans to split into two publicly-traded companies, "Chairman of the Board and Chief Executive Officer" and controlling stockholder Summer Redstone (whom, by the way, pulled in about $64 million last year) sat down for a candid interview with the Los Angeles Times:
Q: How will Viacom change without you as CEO? A: My role really won't change at all. I still control both companies. Les and Tom do not make a move without calling me and discussing it. They work for me. The management style of Viacom, in terms of its culture, attitude and personality, reflects my own views...
He's so modest. "Les and Tom" are, of course, Tom Freston and Leslie Moonves. Both were named "Co-President and Co-Chief Operating Officer" about a year ago and, for the record, both received similar compensation packages to their boss' last year. I wonder if they have to ask Summer to use the bathroom.
While I don't doubt Mr. Redstone's importance at Viacom, I'm not sure I've ever read a more arrogant response to a question by a major company's Chairman (he isn't, after all, CEO).
· Viacom OKs Plan to Split, but 1 Man Will Still Run the Show [Los Angeles Times]
· Google News on Viacom Breakup [Google News]
· Viacom puts stock in exex [Variety, subscription may be required]
· Senior Management [Viacom.com]
· Summer Redstone On Corporate Division, Immortality [Defamer]
Posted in on June 15, 2005, 05:11 PM | Permalink
