Karmazin quits.Karmazin Quits: Viacom Inc. President Mel Karmazin Melvin Alan "Mel" Karmazin, a native New Yorker, (born August 24, 1943)[1] is an executive who has held several top jobs in the broadcasting industry and is currently CEO of Sirius Satellite Radio. unexpectedly resigned from the New York-based media giant, parent of Paramount Pictures. Tom Freston Thomas E. Freston (born 22 November 1945) is an American television executive who most recently served as President and Chief Executive Officer of the post-split Viacom, until his resignation on September 5, 2006. , head of Viacom's MTV Networks, and Leslie Moonves, who heads its CBS television network CBS Television Network Major U.S. broadcasting company and network. It began in 1928 as the Columbia Broadcasting System, a small radio network directed by William S. Paley. , were named co-presidents and co-chief operating officers. Viacom Chairman and Chief Executive Sumner Redstone said he would relinquish his CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. role within three years. Karmazin is credited with cutting expenses and spurring profit growth, but his relationship with the 81-year-old Redstone long had been strained and the subject of much speculation. The day after Karmazin's resignation, Jonathan Dolgen, head of Viacom's entertainment group that includes Paramount, also stepped down. (See stories, pages 6, 7.) |
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