Sumner Redstone Steps Down From CBS

STAFF SWITCH

Updated Apr. 13, 2017 5:51PM ET / Published Feb. 03, 2016 8:23PM ET

The 92-year-old executive chairman Sumner Redstone of the CBS Corporation resigned on Wednesday, allowing Leslie Moonves, the company's chief executive to take his place. A previous lawsuit challenging Redstone's mental competence made some investors worried about his ability to continue in the position. His role in the company is set to be discussed at an upcoming board meeting.

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