Sumner Redstone Resigns as CBS Executive Chairman

Media & AdvertisingReuters

Sumner Redstone resigns as CBS chairman

FBN’s Charlie Gasparino on the resignation of Sumner Redstone as CBS chairman.

CBS Corp said on Wednesday Sumner Redstone had resigned as executive chairman, a move that comes amid heightened questions about the billionaire's physical and mental health.

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He will be replaced by Leslie Moonves, the president and chief executive officer of CBS, the company said.

Redstone's resignation was effective Feb. 2.

Redstone's health has been the subject of intense debate, partly due to his notable absence from the companies' recent earnings calls. (Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D'Souza)