Leslie Moonves has been named chairman of CBS Corp, replacing executive chairman Sumner Redstone as the head of the company’s board.
Redstone has been named chairman emeritus. His daughter Shari Redstone will continue as vice chair of the company. Moonves will still continue to serve as president and CEO of CBS.
“I am honored to accept the chairmanship of this great Company,” Moonves said in a statement Wednesday. “I want to thank Sumner for his guidance and strong support over all these years. It has meant the world to me. I am particularly grateful that Shari Redstone has agreed to continue in her role as Vice Chair of the Company.