Amid growing evidence that Sumner Redstone is planning sweeping changes at Viacom, speculation in the industry has turned to who might be recruited as the successor to CEO Philippe Dauman. Much of the focus, sources say, is centering on Tom Freston, the former MTV Networks boss and Viacom CEO who was ousted by Redstone in 2006 and replaced by Dauman. Judy McGrath, Freston’s former top lieutenant at MTV Networks, has also been mentioned as a possibility.
The long-time MTV Networks CEO will have a ringside seat at the transformation of media and retailing. Amazon reports in an SEC filing this morning that Judy McGrath was elected to the board yesterday, and appointed to the Leadership Development and Compensation Committee, effective Oct. 1. As an incentive to stay, she received rights to 2,520 shares convertible at a rate of 840 a year over three years beginning August 2015.
The head of the Viacom division since 2004 will not be replaced. The execs in charge of MTV’s operating units will now report to Viacom President-CEO Philippe Dauman.