Viacom made it official over the weekend: CEO Philippe Dauman is out. Dauman will step down immediately as president and CEO, but will continue as a non-executive chairman until Sept. 13. Viacom’s COO Thomas Dooley was named interim CEO through Sept. 30. Under the terms of the settlement, all lawsuits among them will be terminated. Viacom is also creating an expanded board of directors to include the five directors elected in June by National Amusements — which is Sumner Redstone’s company that holds about 80% stake in both Viacom and CBS.
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