- CBS' chief operating officer, Joseph Ianniello, has taken over as interim CEO after Les Moonves left the company Sunday amid a series of new sexual-misconduct allegations.
- One industry analyst predicted Ianniello's tenure as interim CEO was likely to be short, however, in large part because of his rapport with Moonves.
- Private text exchanges published by Deadline last month show Moonves and Ianniello as close "confederates" in CBS' legal battle with its controlling shareholder, National Amusements.
The end of Les Moonves' 20-year tenure as CBS' chief executive leaves the company's chief operating officer, Joseph Ianniello, as president and acting CEO.
Moonves stepped down as CEO and chairman on Sunday evening after a series of new sexual harassment and assault allegations were made against him in a New Yorker report.
Ianniello joined CBS in 1997 and worked his way up through various financial roles to become the company's chief financial officer in 2009. He was then promoted to chief operating officer in 2013, a position he held until Moonves left.
An industry analyst thinks Ianniello's tenure as interim CEO is likely to be short, however, in large part because of his close rapport with Moonves.
Deadline last month reported on private exchanges between Ianniello and Moonves that were made public as a result of the company's legal battle with its controlling shareholder, National Amusements, owned by the Redstone family.
The outlet wrote that the exchanges were made on the disappearing-text app TigerText before The New Yorker first detailed allegations of sexual misconduct against Moonves in July and depicted Moonves and Ianniello as "two confederates in a high-stakes corporate war."
Ianniello reportedly messaged Moonves "I will have your back to the end!" following a May 13 CBS board meeting in which the board voted to institute a stock dividend that would dilute the Redstone family's voting control of the company. Ianniello's messages also contained supportive messages referring to "The Godfather" and a promise to his boss that said, "This way you are not alone," according to Deadline.
The media analyst Rich Greenfield of BTIG predicted in a note released Sunday evening that Ianniello would be gone from the company by the end of 2018:
"We believe acting CBS CEO, Joseph Ianniello, will likely leave the company before the end of calendar 2018 - similar to how acting Viacom CEO, Tom Dooley, lasted only 90 days after the departure of former CEO, Philippe Dauman ... Ianniello protected Moonves for years, had a similar focus on short-term cheerleading actions versus real long-term strategy, and was overpaid for years for his support of Moonves."
Greenfield wrote that CBS would most likely seek a replacement for Ianniello from outside the company's executive ranks.
SEE ALSO: Les Moonves, CEO of CBS, is out after 6 more women accused him of sexual harassment, assault
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