Viacom CFO Resigns in Executive Overhaul
Richard Bressler resigned as chief financial officer of Viacom Inc., the latest ripple in the management overhaul at the entertainment giant that began last summer when Mel Karmazin stepped down as president.
Bressler said he had decided not to renew his contract, which expires in March 2006, to allow Karmazin’s successors to put their own team in place.
Viacom chief Sumner Redstone elevated two of his top divisional lieutenants to replace Karmazin: Tom Freston, who headed the company’s vast cable group, and Leslie Moonves, chief of CBS Television. One of the two men is expected to become chief executive in 2007, when 81-year-old Redstone said he would retire.
Bressler said he would stay on until his replacement is found. Before joining Viacom four years ago, Bressler was CFO for AOL Time Warner Inc.
-- Sallie Hofmeister
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