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BtoB

Karmazin resigns as Viacom president

Published on .

New York—Viacom announced Tuesday that Mel Karmazin has resigned as president-COO.

The media conglomerate said Tom Freston, chairman-CEO of Viacom's MTV Networks unit, and Leslie Moonves, chairman-CEO of the CBS TV network unit, have been named co-presidents and co-COOs, effective immediately.

Karmazin was credited with turning around CBS and merging it with Viacom in May 2000 to create a media giant that includes broadcast TV, cable, Internet, radio and outdoor advertising networks. He said he was quitting for "for personal and professional reasons."

It has been widely reported that Karmazin and Viacom’s controlling shareholder and chairman, Sumner Redstone, have had a tense relationship.

—Carol Krol

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