Sumner Redstone has appointed two new members to the board of his family trust in the latest twist to the ongoing battle for control of Viacom.
A storm has erupted following Redstone’s decision to remove Viacom CEO Philippe Dauman and lawyer George Abrams from that board, sparking a bitter war of words and a lawsuit from the evicted pair who are seeking to be reinstated.
The board ultimately controls media giant Viacom and while Redstone’s lawyers have claimed he is securing the financial security of his family, Dauman’s side have alleged he no longer has the mental faculties to make such a decision.
The two new board members are Tad Jankowski, general counsel and 35-year veteran at Redstone’s National Amusements, and financial analyst and former Warner Music exec Jill Krutick.
Krutick said: “I met Sumner in 1994 when I was an equity analyst covering the large cap entertainment companies for Salomon Smith Barney.
“We had a close working relationship over a 10-year period as Sumner exuberantly shared his views on Viacom with investors from around the globe, and I have continued my long-time relationship with the Redstone family.”
Jankowski said: “I am honored that Sumner has chosen me as a trustee and am convinced that he did so knowing that I would be loyal to him and would work to accomplish the objectives of the Trust.”
Redstone’s eldest granddaughter Kimberlee Ostheimer and Krutick have also been appointed to the board of National Amusements.
“I am honored to be named as a fourth generation director and look forward to contributing to the continued success of the company my family has built over the last 80 years,” said Ostheimer.
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23 October 2020 @ 09:29:38 UTC