CBS suspends search for new CEO, extends Ianniello as acting CEO
Joseph Ianniello has agreed to extend his role as CBS Corporation's President and Acting Chief Executive Officer for six additional months through Dec. 31, the company announced. CBS' board of directors determined it would suspend its search for another Chief Executive Officer. In a statement, CBS' board of drectors said: "Joe has demonstrated exceptional leadership during this time of unprecedented transition at CBS. He steadied the ship with some key appointments and a commitment to cultural change, and steered it forward by focusing CBS' operations around its growing direct-to-consumer strategy. We are very pleased to recognize Joe's talents and efforts with this extension, and we look forward to all that he'll continue to do to build on CBS' remarkable momentum." Previously, Ianniello served as the Chief Operating Officer since 2013, where he was responsible for establishing and executing Company strategy across all businesses.