Ianniello, 45, becomes the second-ranked operating executive in the broadcasting company, after Chief Executive
Ianniello, who has served as CBS' chief financial officer since 2009, will gain oversight of the negotiation of important distribution contracts between the network and pay-TV distributors. Those deals -- known as retransmission consent fees -- have become a crucial source of revenue for CBS. He will also oversee deals between CBS and other entertainment platforms such as
As part of the appointment, Ianniello signed a new five-year employment agreement. He will continue to report to Moonves and will be based in New York and Los Angeles. According to a CBS proxy filed in April, Ianniello received the third-highest compensation at the company, with a total package valued at $12.2 million, behind Moonves and company Chairman
"He's been a game-changing CFO, but he's also so much more than that," Moonves said in a statement. "He is a tough negotiator, a great manager, and someone who brings energy, passion and a great sense of teamwork to anything he does."
Before the 2006 separation of
Married with two children, Ianniello has a bachelor's degree in business from Pace University and an MBA from Columbia University.