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Richard Parsons descends from the CBS Board

Richard Parsons had joined the CBS Board six weeks ago. He went down Sunday and cited health reasons.Photo:Patrick McMullan /…

 Richard Parsons had joined the CBS board six weeks ago. He went down on Sunday for reference to health reasons.

Richard Parsons had joined the CBS Board six weeks ago. He went down Sunday and cited health reasons.


Photo:

Patrick McMullan / Getty Images

CBS
Corp.


CBS 1.96%

Deputy Chairman Richard Parsons resigns due to health issues. New Board member Strauss Zelnick will succeed with him.

In a statement on Sunday, Parsons said he has fought with multiple myeloma and complications have now arisen which led to his doctor advising to reduce his workload. Mr Parsons had just joined the CBS Board six weeks ago.

“Unfortunately, unintended complications have created further new challenges, and my doctors have recommended that I manage my current commitments to be crucial to my overall recovery.” Parsons said, adding: “I trust the excellent management board of the CBS, now led by Strauss Zelnick, as well as CBS & # 39; strong management team led by Joe Ianniello, will continue to successfully manage this company in its very bright future. “

The resignation of Mr Parsons is the latest shake on the CBS Board, which has undergone a transitional phase because Leslie Moonves was forced to resign as chairman and CEO in early September because of allegations of sexual harassment and abuse. Mr. Moonves has denied that he ever forced anyone. Two other CBS board members-Bruce Gordon and William Cohen resigned less than a month ago. [19659008] A former CEO of Time Warner Inc., Mr. Parsons, was taken to lend a steady hand to CBS in the wake of Mr. Moonve’s resignation. He also developed a close relationship with Shari Redstone, a vice president of CBS and President of National Amusements Inc., which controls the shareholder in the sender.

Mr. Zelnick, who joined the CBS Board n at the same time as Mr. Parsons in early September, has a series of media experiences that have been high in BMG Entertainment and 20th Century Fox. He is currently president and CEO of video game publishers

Take-Two Interactive Software
Inc.

One of the first priorities for Zelnick and the Board is to decide who will be the next Executive Director. Mr Ianniello, Chief Operating Officer, was appointed Managing Director in September and is a candidate for the position, but the company is also expected to consider third-party candidates.

During the past month, Ianniello has made several leadership changes at CBS. Last week, he named the showtime president David Nevin’s chief candidate of CBS. The move is significant because, unlike Mr. Moonves, who stepped up the wiring through Hollywood’s side of business, has Mr. Ianniello no programming experience. Mr. Nevins will be responsible for the content of CBS Network as well as Showtime and CBS streaming service All Access.

Write to Joe Flint at [email protected]

Appeared in October 22, 2018, published as “Parsons Steps Down at CBS, Citing Health.”

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