Hedge fund SpringOwl Asset Management, a small investor in Viacom, has asked the company not to name current CEO Philippe Dauman chairman.
The fund released a statement condemning Dauman Wednesday after Sumner Redstone, Viacom’s executive chairman, stepped down from his parallel roll as head of the board of CBS Corp. He was replaced by CBS president and CEO Leslie Moonves.
Following that announcement, Redstone’s daughter, Shari Redstone, indicated that she would not support Dauman to succed her father as chairman of Viacom.
“We thank Sumner for his service and a tremendous entrepreneurial career in building a great set of assets,” SpringOwl said in a statement Wednesday.