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Joseph Ianniello Extends With CBS Through 2019

NEW YORK, April 23, 2019 /PRNewswire/ -- Joseph Ianniello has agreed to extend his role as CBS Corporation's President and Acting Chief Executive Officer for six additional months through Dec. 31, the Company announced today. In addition, as a testament to the accomplishments achieved by Ianniello since he became President and Acting CEO, CBS' Board of Directors determined it would suspend its search for another Chief Executive Officer.

In a statement, CBS' Board of Directors said: "Joe has demonstrated exceptional leadership during this time of unprecedented transition at CBS. He steadied the ship with some key appointments and a commitment to cultural change, and steered it forward by focusing CBS' operations around its growing direct-to-consumer strategy. We are very pleased to recognize Joe's talents and efforts with this extension, and we look forward to all that he'll continue to do to build on CBS' remarkable momentum."

Since assuming his current role in September 2018, Ianniello has successfully positioned CBS as a multiplatform premium content company, overseeing all operations while working closely with management and the creative community.

Previously, Ianniello served as the Chief Operating Officer since 2013, where he was responsible for establishing and executing Company strategy across all businesses. In addition, he developed and spearheaded the Company's monetization strategy across platforms, including retransmission consent fees and reverse compensation from affiliates, as well as the licensing of the CBS Corporation content for digital streaming and broadband services. He was also instrumental in launching CBS All Access, which has developed into one of the Company's fastest growing initiatives.

He led the Company's acquisition of Network 10 in Australia and the split-off of CBS Radio through a merger with Entercom. In addition, he led the conversion of CBS Outdoor into a real-estate investment trust, marking a first for an outdoor advertising business.

Prior to being named Chief Operating Officer, Ianniello was Chief Financial Officer (2009-2013) and oversaw the Company's financial operations across all business units. Ianniello was consistently ranked as a top Chief Financial Officer by Institutional Investor's annual All-America Executive Team survey. He joined CBS in 1997.

Ianniello serves on the Board of Directors of New Alternatives for Children, Inc. He earned a Bachelor of Business Administration at Pace University, where he serves today on its Board of Trustees, and a Master of Business Administration at Columbia University. He is married and has two children.

About CBS Corporation:
CBS Corporation (NYSE:CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world's largest libraries of entertainment content, making its brand — "the Eye" — one of the most recognized in business. The Company's operations span virtually every field of media and entertainment, including cable, publishing, local TV, film and interactive. CBS' businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), Network 10 Australia, CBS Television Studios, CBS Global Distribution Group, CBS Consumer Products, CBS Home Entertainment, CBS Interactive, CBS All Access, the Company's direct-to-consumer digital streaming subscription service, CBS Sports Network, CBS Films, Showtime Networks, Pop, Smithsonian Networks, Simon & Schuster, CBS Television Stations and CBS Experiences.

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