New England Patriots Owner Robert Kraft Quits Viacom Board
Viacom stock is off 39 percent so far this year.
Perhaps preoccupied with "deflategate," New England Patriots owner Robert Kraft has quit the board of directors at Viacom, where he has been a director since 2006.
In a regulatory filing on Friday, Viacom said that Kraft's "obligations elsewhere had increased to the extent that he no longer felt capable of fulfilling his duties as a member of the board."
While Kraft has been dealing with accusations his NFL team deflated footballs in an attempt to gain an unfair advantage over competitors, Viacom has had to deal with a sinking share price. The stock is off 39 percent so far this year.
Beyond Kraft, Viacom's board has 12 other members, including Sumner Redstone, his daughter Shari, CEO Philippe Dauman and TV personality Deborah Norville.