In late September, a new interim chairman was instated at CBS following the departure of Leslie Moonves, due to apparent sexual assault allegations brought forth against him. That man’s name is Richard Parsons–who was voted in unanimously due to his extensive background in leadership and language of the media world.
Along with the installation of Parsons to the interim position, six other new members were added to the board of directors of CBS as well–almost doubling its size. CBS is owned by a private theatre company called National Amusements, which also controls the major media corporation Viacom.
There has been a lot of scandal within the CBS network following these allegations rising between Moonves and Shari Redstone, the board’s vice chairwoman and company’s controlling shareholder who Parsons happens to be an ally of. The two have allegedly even stirred up issues within the network in the sense of employees choosing sides of employers.
Several directors have even gone as far as to sue Redstone because she had shown intentions of wanting to partner with or sell share of CBS to Viacom. Many found this unsettling when considering the company’s shareholders and the parts they hold in the company. Between Moonves and Redstone, it’s safe to say that CBS has seen quite an unraveling year of events.
CBS is a huge network with millions of viewers watching regularly. The chairman is one of the most important seats a person can hold in a company, and Parsons has proved himself to be the right man to step in during this irregular time CBS is facing. He will be responsible for overseeing board meetings and helping in electing new officials for the company.
Over all, Parsons could try to make a lot of changes at CBS during his time in the interim seat. However, nothing can change without the overall approval from the board, and now that the size has grown from seven to 13, the chances of agreeing on a big decision would be more unlikely than likely. So while CBS figures itself out, try not to worry about them too much, instead, focus on your own growth.