Les Moonves, CBS Corp.'s CEO and president, has been named chairman of the company. He replaces the ailing Sumner Redstone, who resigned Tuesday as executive chairman but will remain as chairman emeritus.
Moonves, who joined CBS in 1995 as CBS Entertainment president, was unanimously elected by the CBS board after being nominated by Shari Redstone, Sumner Redstone's daughter and vice chair of the board. Moonves will continue on as CEO and president.
Redstone, who is 92, also served as executive chairman of Viacom (when CBS and Viacom split in 2005, he was chairman of both companies), but there is no word yet about his future at that company.