Sumner Redstone to leave Viacom board
Sumner Redstone, the 93-year-old media tycoon whose health has been questioned, is stepping down from the board of his conglomerate Viacom, the company announced Friday.
Redstone will remain chairman emeritus and "will continue to participate in meetings of the board in a non-voting role," a regulatory filing said.
The statement indicated Redstone would no longer play a role on the board after the February 6 annual meeting.
It marks a further step back for Redstone, whose failing health has been the object of litigation as his daughter Shari assumes increasing control of his corporate empire.
The Redstone family, through its National Amusements holding company, controls Viacom, which includes an array of television operations and the Paramount studios in Hollywood, as well as television giant CBS.
Earlier this month, the family scrapped a plan to re-merge those two firms a decade after their breakup.
Viacom has been in turmoil for months, having ousted chief executive Philippe Dauman, who clashed over control of the company with the Redstone family.
Dauman had filed legal actions claiming the aging Redstone was unable to manage his affairs and had been manipulated by his daughter Shari.
Dauman eventually dropped his lawsuit as part of an agreement to leave the company, which controls Paramount, a global television empire that includes MTV, Comedy Central, Nickelodeon and other properties, with operations in 180 countries.
Longtime company executive Robert Bakish was named interim CEO earlier this year, and confirmed in that role this month.