Barring a last minute change in sentiment — still a possibility — Viacom’s board seems poised to vote Monday to hand International Media Networks CEO Bob Bakish the company’s top job beginning November 15 when interim CEO Tom Dooley steps down.
More than a month ago, when Dooley said he would not stay, Deadline identified Bakish as one of two internal candidates with the inside track for the job. CFO Wade Davis was the other apparent contender.
Bloomberg reported last night that Bakish likely will prevail.
Viacom’s board is scheduled to meet on Monday.
The CEO job has been up for grabs since August 18 when Philippe Dauman lost his effort to overturn controlling shareholder Sumner Redstone’s decision to oust his former friend. Dauman filed court cases saying that Redstone, 93, was no longer competent to make such a judgment and was being manipulated by his daughter, Shari, who’s Viacom’s Vice Chair.
The Redstones — who control 80% of the voting shares — added five directors to Viacom’s board, restoring their clout over the governing body.
Dooley moved from COO to interim CEO until September 30, the end of the company’s fiscal year, and was considered in line to take the job without the “interim” modifier.
At the time Bakish told his troops in a memo that Dooley “hired me at Viacom, in fact, back in 1997 – and he’s one of the smartest, most strategic and intellectually curious leaders I’ve worked with.”