CBS Extends Contract for Moonves to 2015

By Andrew Gauthier 

The New York Times

Leslie Moonves will continue to lead the CBS Corporation until early 2015, the company announced Wednesday after extending his employment agreement.

The contract for Mr. Moonves, the chief executive of CBS Corporation, was set to expire in 2011. The company said the new deal would expire on Feb. 22, 2015.

In a statement, Sumner Redstone, the company’s executive chairman, said the agreement “not only secures the future of the company for many years to come, it also further aligns and strengthens the interests of the chief executive with those of our shareholders.” More…