CBS announced Tuesday that it will suspend its search for a new CEO and that it will keep acting CEO Joseph Ianniello in the role through the end of the year.
Earlier this month, CNBC had reported that CBS had missed its own internal deadline to find a successor for Les Moonves, who resigned amid sexual misconduct allegations.
Ianniello assumed the role in September and had previously served as CBS' chief operating officer. The media giant's board said in a release, "Joe has demonstrated exceptional leadership during this time of unprecedented transition at CBS."
Shares of CBS rose slightly postmarket following the news.
This is breaking news. Please check back for updates.
from Top News & Analysis https://cnb.cx/2PqU0Qn
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