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Richard Parsons Named Interim Chairman Of The Board Of Directors, CBS Corporation

Richard Parsons has been named CBS Corporation’s Interim Chairman of the Board of Directors, the Company announced today. The Board unanimously approved the appointment, which was recommended by the Board’s Nominating and Governance Committee.

“Dick Parsons has a combination of deep industry knowledge and unmatched corporate and board experience,” said Candace Beinecke, Chair of CBS’ Nominating and Governance Committee. “We are fortunate to have Dick in this leadership role.”

“We have a distinguished and independent Board that is steadfast in its commitment to serve the best interests of all shareholders,” said Parsons. “I think I speak for all Board members when I say I look forward to learning more about CBS’ compelling opportunities and how we can help guide and support the Company’s growth.”

The Company also announced that Bruce Gordon and William Cohen, who have served on the Board of Directors since CBS became a stand-alone public company in 2006, have decided to step down from their posts to focus on other personal and professional priorities. The Board unanimously adopted a resolution to express its thanks and appreciation to Messrs. Gordon and Cohen for their long and dedicated service to CBS, and to wish them well on their future endeavors.

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