kechara420
05-22-2003, 08:37 AM
Viacom Adds Outsiders to Board
Multichannel News
5/21/2003 5:21:00 PM
Viacom Inc. shareholders approved a board of directors with fewer company insiders Wednesday, Reuters reports.
"The changes to the board are to increase the ratio of independent directors and further our commitment to good corporate governance," chairman and CEO Sumner Redstone told investors.
Not standing for re-election to the company’s new 17-member board were Redstone's son Brent, CBS president and chief operating officer Leslie Moonves, Akamai Corp. chairman George Conrades and Credit Suisse First Boston LLC vice chairman Ken Miller.
The new board now has 11 independent members versus 10 on the previous 18-person board.
Two of the outgoing directors were company insiders. They were replaced by three independent directors: former secretary of health, education and welfare Joseph Califano; former secretary of defense William Cohen; and former Bear Stearns Cos. Inc. chairman Alan Greenberg.
Multichannel News
5/21/2003 5:21:00 PM
Viacom Inc. shareholders approved a board of directors with fewer company insiders Wednesday, Reuters reports.
"The changes to the board are to increase the ratio of independent directors and further our commitment to good corporate governance," chairman and CEO Sumner Redstone told investors.
Not standing for re-election to the company’s new 17-member board were Redstone's son Brent, CBS president and chief operating officer Leslie Moonves, Akamai Corp. chairman George Conrades and Credit Suisse First Boston LLC vice chairman Ken Miller.
The new board now has 11 independent members versus 10 on the previous 18-person board.
Two of the outgoing directors were company insiders. They were replaced by three independent directors: former secretary of health, education and welfare Joseph Califano; former secretary of defense William Cohen; and former Bear Stearns Cos. Inc. chairman Alan Greenberg.