As merger talks between CBS and Viacom board members intensify, scenarios under consideration for the post-deal management are coming into focus. Viacom CEO Bob Bakish has a lock on the CEO slot fo…
CEO Bob Bakish has a lock on the CEO slot for the combined entity. But multiple sources familiar with the situation say it is unlikely that the company will have a corporate-level chief operating officer post as has been the tradition at bothand Viacom. The question of who would fill the No. 2 role as the merger brings together a clutch of strong division heads has emerged as politically touchy, at least in the short term.
Wade Davis, Viacom’s executive VP and chief financial officer, has essentially functioned in the role of Viacom’s COO since Bakish was promoted to CEO in December 2016. But as the management picture begins to take shape without a clear COO role there is growing speculation Davis will exit, by his own choice, after the merger is complete. Davis has been with Viacom since 2005. He was promoted to CFO in 2012.
David Nevins, chief content officer for CBS Corp. and CEO of Showtime Networks, is seen as continuing to run Showtime and play a big part in expanding the enlarged company’s suite of direct-to-consumer offerings. Nevins was given an expanded remit as chief content officer in September, when CBS management was shaken up by the ouster of chairman-CEO Leslie Moonves.
Sources stressed that questions around potential combinations of overlapping Viacom and CBS production, content and distribution and operations are among the trickiest for the boards to sort out. Bakish has assembled a team of strong brand-focused executives that are also key players in potential restructuring and consolidation scenarios.
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