Philippe Dauman has argued in court saying that the 93-year-old media’s mogul’s daughter, Shari Redstone, is manipulating her father. Sumner Redstone has not been seen speaking in public for a months now. Viacom’s lead independent director, Fred Salerno, has pleaded a face to face meeting with Sumner Redstone, he has however been stonewalled.
Another milestone has been reached on the ongoing saga that is storming through Viacom. According to Sumner Redstone’s spokesman, the 93-year-old mogul no longer trusts Viacom’s CEO Philippe Dauman to act in the company’s best interests.
These comments from Redstone are likely to significantly affect the company in the event following his death or he is incapacitated.
Last month, Dauman was ejected from Viacom’s board along with another director. Redstone has a 80% control of Viacom’s voting shares. On his part, Dauman has filed a legal challenge to the maneuver and has questioned the 93 year’s mental competence.
Redstone’s current statement through his spokesman comes in the wake of Viacom’s lead independent director, Fred Salerno’s letter, in which he has pleaded for a meeting with Redstone warning that his inaccessibility could further promote more court battles.
“I no longer trust Philippe or those who support him,” responded Redstone in a note addressed to Salerno. The note was released by Redstone’s spokesman.
“I am being sued by my fellow board members and my wishes are being ignored. I am determined to act in the best interests of the company and all of its shareholders. I do not trust you or the current board to do the same,” reads the note.
Viacom’s independent directors have vowed to fight any attempt to oust them from the board saying they found the assertion of mental incompetence “inexplicable”.
“We could clear a lot of this up if Sumner would share his thoughts with me face-to-face,” said Salerno in a statement, yesterday.
According to court filings, Dauman has argued saying Shari Redstone is manipulating Sumner Redstone, her father. As for her, Shari Redstone has said she is spending more time with her father now, but he makes his own decisions.
She has clashed with Dauman over the company’s management.
Dauman’s spokesman had no comment.
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