Big changes at CBS.

20150518 REDSTONE-REDSTONE-MOONVES-ARROWSAfter months of rumors about the health and ability of CBS Chairman Sumner Redstone, he has resigned his position and will serve as Chairman Emeritus, while President/CEO Les Moonves will sit in the Chairman’s chair. Redstone’s daughter, Shari, will continue in her role as Vice Chair. In a statement, the newly-minted Chairman said, “The people of CBS have achieved much together and I believe the best is yet to come.” Sherry Redstone issued her own statement, saying, “I am sure he [Moonves] will make a great Chair and I look forward to working with him for many years to come.”