Viacom's Tom Dooley to leave on 15 November

Yesterday Viacom (VIA) announced that its interim CEO and president Tom Dooley would leave the company on 15 November. Dooley was supposed to step down at the end of September but agreed to stay on later while the company searches for a replacement. In a statement Dooley said that he felt confident the new board could move the company in a positive direction. Meanwhile the largest shareholder of the company, Sumner Redstone, is still in a medically poor condition. His daughter, Sheri Redstone, who is the vice chair of the company became involved in a dispute with Dauman who accused Redstone of wanting to take control of the company and taking advantage of her ill father's health. On August the 18th, the board of Viacom voted for a settlement and as part of the agreement, Dauman had to resign and Dooley was appointed and five new member were appointed by the Redstone's.