CBS Corp. Promotes CFO Joseph Ianniello to COO Post

President and CEO of CBS Corp Leslie Moonves-Launch of Fallout: New Vegas-2010
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He will continue to report to president and CEO Leslie Moonves.

CBS Corp. said Wednesday that it has promoted CFO Joseph Ianniello to the newly created role of COO.

The announcement was made by president and CEO Leslie Moonves, to whom Ianniello will continue to report.

In his new role, Ianniello will continue to oversee all financial operations and work closely with Moonves and senior management to "maximize the monetization of the company content, including oversight of negotiations for digital streaming, retransmission consent fees and reverse compensation from affiliates," the firm said.

He signed a five-year contract, CBS Corp. said.

“Joe’s role in CBS’s success these past several years has been extraordinary,” said Moonves. “He’s been a game-changing CFO, but he’s also so much more than that. He is a tough negotiator, a great manager, and someone who brings energy, passion and a great sense of teamwork to anything he does. He is also someone who has developed incredible trust and admiration on Wall Street, with our shareholders, our board of directors and my superb senior management team, of which he is an integral part."

Ianniello became CFO in 2009 after serving as deputy CFO. Before the split of CBS and Viacom, he held several roles at Viacom, including that of senior vp and treasurer (2005) and vp corporate development, a role in which he was involved in identifying and assessing potential mergers and acquisitions.

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