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NEW YORK Viacom today said Tom Freston has stepped down as president and CEO, effective immediately.
The 60-year-old Freston, who had taken the reins at the media conglomerate following its split from CBS at the beginning of the year, will be replaced by board member Philippe Dauman, a close associate of Viacom executive chairman and founder Sumner Redstone.
In a statement, Redstone praised the departing Freston, but gave no indication as to why the Viacom chief had decided to leave the company.
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