NEW YORK--(BUSINESS WIRE)--
Viacom Inc. (NASDAQ: VIAB and VIA) today announced that its Board of
Directors has created the position of Lead Independent Director and that
the company's independent directors have elected Frederic V. Salerno to
the newly created position.
In his new role, Mr. Salerno's primary responsibilities will include
coordinating the activities of the independent directors and to serve as
a liaison between the Executive Chairman, President and Chief Executive
Officer and other independent directors. The addition of a Lead
Independent Director will enhance Viacom's corporate governance
practices, which already include a majority of independent directors and
board committees that are comprised solely of independent directors.
Philippe Dauman, Executive Chairman, President and Chief Executive
Officer of Viacom, said, "Fred has been a strong leader as a member of
our board and his judgment, broad perspective and experience will serve
him and the board well as he undertakes his new role as Lead Independent
Director. I am committed to strong governance practices that are
thoughtful, focused and proactive, particularly in this time of
transition for the company. I am delighted that Fred has agreed to take
on this important new role that will help maintain a sharp focus on the
interests of our entire shareholder base."
Mr. Salerno said, "I am honored to have been selected by the independent
members of the board as Lead Independent Director, and I look forward to
greater involvement in representing Viacom's shareholders. Philippe has
set out a clear vision for Viacom that is focused on its unique
strengths and global ambitions. I believe that we are poised for
tremendous accomplishments and that Viacom's management team will
deliver even greater value in the years ahead."
Mr. Salerno is a retired Vice Chairman and Chief Financial Officer of
Verizon Communications Inc., a position he held from June 2000 to
October 2002. Prior to that, Mr. Salerno served as Vice Chairman and
Chief Financial Officer of Bell Atlantic (Verizon's predecessor)
beginning in August 1997. Prior to the merger of Bell Atlantic and NYNEX
Corporation, Mr. Salerno served as Vice Chairman, Finance and Business
Development, of NYNEX from 1994 to 1997. Mr. Salerno was Vice Chairman
of the Board of NYNEX and President of the NYNEX Worldwide Services
Group from 1991 to 1994. Mr. Salerno has served as a director of Akamai
Technologies, Inc. since 2002, IntercontinentalExchange, Inc. since
2002, CBS Corporation since 2007 and FCB Financial Holdings Inc. since
2010.
About Viacom
Viacom is home to premier global media brands that create compelling
television programs, motion pictures, short-form content, apps, games,
consumer products, social media experiences, and other entertainment
content for audiences in 180 countries. Viacom's media networks,
including Nickelodeon, Comedy Central, MTV, VH1, Spike, BET, CMT, TV
Land, Nick at Nite, Nick Jr., Channel 5 (UK), Logo, Nicktoons, TeenNick
and Paramount Channel, reach over 3.5 billion cumulative television
subscribers worldwide. Paramount Pictures is a major global producer and
distributor of filmed entertainment.
For more information about Viacom and its businesses, visit www.viacom.com.
Keep up with Viacom news by following Viacom's blog at blog.viacom.com
and Twitter feed at www.twitter.com/viacom.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160316006374/en/
Media
Viacom Inc.
Jeremy Zweig, 212-846-7503
jeremy@viacom.com
or
Edelman,
on behalf of Viacom
Lex Suvanto, 212-729-2463
Managing Director
lex.suvanto@edelman.com
or
Investors
Viacom
Inc.
James Bombassei, 212-258-6377
james.bombassei@viacom.com
or
Pamela
Yi, 212-846-7581
pamela.yi@viacom.com
Source: Viacom Inc.
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