Seven Named to CBS, Viacom Boards

Viacom Inc. on Tuesday appointed seven independent directors to the boards of CBS Corp. and the new Viacom, which will be formed after the company splits this year.

Four directors including Bank of America Corp. Chairman Emeritus Charles Gifford, 63, and Bruce Gordon, 59, chief executive of the National Assn. for the Advancement of Colored People, will join the CBS board, Viacom said.

Viacom Chairman Sumner Redstone, 82, is preparing to separate the company’s slower-growing assets such as CBS television and Infinity Radio from MTV Networks, whose revenue and profit are increasing at a faster rate. Redstone will serve as chairman of each new company. His daughter, Shari Redstone, will become nonexecutive vice chairwoman of both.

Thomas Dooley, 49, CEO of DND Capital Partners, will join the new Viacom board, as will Ellen Futter, 56, president of the American Museum of Natural History, and Robert Kraft, 64, CEO of Kraft Group, which owns the New England Patriot football team.

Class B shares of Viacom rose 43 cents to $34.07.

The two boards each will have 12 members. Viacom co-President Tom Freston, who will become CEO of the new Viacom, will also serve on the new Viacom board.

The CBS board will also add Ann Reese, 52, co-founder of the Center for Adoption Policy, and Judith Sprieser, 51, who was CEO of software company Transora Inc. until March. Viacom co-President Leslie Moonves will serve on the CBS board.