Viacom And CBS Name Finance Execs For Merging Company, Confirm Nasdaq Plan

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Christina Spade, the CFO of CBS who will retain that title when the company merges with Viacom, has set key appointments to her team of finance executives.

The executives and titles were named in an internal memo, which was also reported in an SEC filing Friday. The long-awaited merger of CBS and Viacom, which reunites companies controlled by National Amusements for the first time since 2006, is expected to close in the next couple of weeks.

David Byrnes, SVP, Controller and Chief Accounting Officer at CBS, will serve as SVP, Corporate Finance for ViacomCBS. He will oversee the combined company’s financial planning and analysis, with a focus on budgeting, forecasting, and long-range strategic planning.

Kathy Gill-Charest, SVP, Controller and Chief Accounting Officer at Viacom, will serve as EVP, Controller and Chief Accounting Officer at ViacomCBS. She will oversee the combined company’s accounting, financial reporting and financial compliance.

Rich Jones, EVP, General Tax Counsel and Chief Veteran Officer of CBS, will serve in the same position for ViacomCBS. He will oversee worldwide tax practice and continue to lead the company’s commitment to honoring and supporting members of the military, veterans and their families.

Jim Morrison, SVP and Treasurer of CBS, will also continue in that role at ViacomCBS. He will oversee the company’s capital markets efforts, pension and 401(k) investments, domestic and international treasury operations, hedging activities and other elements of the company’s financial strategy.

All four execs will report to Spade and work closely with Anthony DiClemente, who had previously been announced as the head of investor relations.

“These experienced leaders will work to ensure that ViacomCBS operates in an efficient and strategic manner that further strengthens our financial position,” Spade wrote in the memo.

Also Thursday, CBS confirmed its stock will be delisted on the New York Stock Exchange when the merger is closed. ViacomCBS shares will trade on the NASDAQ under the ticker symbols VIACA and VIAC, the company said, confirming plans first laid out in October.

Investors don’t appear entirely persuaded the merger will succeed. Shares in both CBS and Viacom have lost ground since the combination was formalized in August, though both ended Friday’s trading session with positive results for the week.

This article was printed from https://deadline.com/2019/11/viacom-and-cbs-name-finance-execs-for-merging-company-confirm-nasdaq-plan-1202793369/