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Thomas Dooley is Viacom CEO as Dauman resigns

MUMBAI: Media mogul Sumner Redstone’s boardroom war for control of Viacom has ended in victory with the resignation of CEO Philippe Dauman and the installation of new members to the company’s board.

Thomas DooleyViacom’s board has elected Thomas Dooley as CEO. Dooley, 59, is expected to serve at least through the end of September and could stay on longer.

Dooley is a popular figure among the rank and file of Viacom. He has worked 36 years for the New York media company that owns television channels MTV, VH1, Comedy Central, Nickelodeon and the Hollywood movie studio Paramount Pictures.

Dauman will, according to a media report, receive a golden parachute of $72 million as it was part of his employment agreement. So he is more fortunate than other people who get fired without any monetary reward.