CBS Entertainment To Restructure Leadership After CEO Glenn Geller Steps Down

By Trey Williams Markets MarketWatch Pulse

Glenn Geller, president at CBS Entertainment, is stepping down two months after suffering a mild heart attack. Geller, who's served as CEO since 2015, took a leave of absence and was expected to return at the end of May. CBS Corp. will restructure the leadership at its entertainment division, putting 21-year veteran Kelly Kahl at the top with CW executive Thom Sherman, according to media reports. The CW is owned by CBS and Time Warner Inc. . Last week, CBS extended Chief Executive Leslie Moonves's contract through 2021. Shares of CBS are down more than 3% in the year to date, but have gained more than 12% in the trailing 12-month period. The S&P 500 index is up nearly 8% in the year and 15% in the last 12 months.

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