Sumner Redstone has resigned his post as executive chairman of CBS, replaced by Chief Executive Leslie Moonves.
Mr. Redstone will become chairman emeritus for CBS. He is also chairman of Viacom Inc., which has faced concerns about the ailing mogul’s health.
CBS said Wednesday it offered the position of nonexecutive chair to Mr. Redstone’s daugther, Shari E. Redstone.
“She declined in light of her other professional and personal responsibilities, and in recognition of her confidence in Mr. Moonves,” and will remain vice chair, the company said.
