trending Market Intelligence /marketintelligence/en/news-insights/trending/UpLlgZB7saEMQBzSKguXnA2 content esgSubNav
In This List

Report: Viacom investor says CEO 'has to leave'


Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure


A Telecom Company Relies on Deep Data to Chart its Future Strategy


ESG & Technology: Impacts and Implications


Next in Tech | Episode 35: Multifactor authentication needs and hesitations

Report: Viacom investor says CEO 'has to leave'

investor MarioGabelli said CEO Philippe Dauman "has to leave" and that hisexit is "amatter of when, not if," Reuters reported July 7.

Gabelli, Viacom's second-largest voting shareholder,reportedly said he did not understand why the board and Dauman would their ouster, since ShariRedstone, who is the presidentof National Amusements and vice chairman of Viacom, "has 80% of thevote."

Dauman andViacom director George Abrams are challenging their from the Redstone family trustand the board of National Amusements, claiming that Shari Redstone is undulyinfluencing her father Sumner Redstone's business decisions. NationalAmusements also attemptedto oust five members of Viacom's board, including Dauman and Abrams, and thedirectors then filed a lawsuitto invalidate their ouster.

Accordingto the report, Gabelli did not state what changes he would like to see atViacom.