Finance

Norville, Falcone Sorrell Added To Viacom Board

Media Company Increases Number of Directors 3/21/2013 1:15 PM Eastern
 

Viacom added TV journalist Deborah Norville and Christiana Falcone Sorrell, wife of WPP CEO Martin Sorrell, to its board of directors.

With the two new women members Viacom's board expands to 13 members from 11.

Falcone Sorrell is senior adviser to the chairman of the World Economic Forum and serves as principal consultant, office of outreach and partnership for the Inter-American Development Bank. Her husband's company is one of the world largest advertising and media agency businesses.

Norville is anchor of Inside Edition, a syndicated show produced and distributed by CBS, another company controlled by Viacom chairman Sumner Redstone. Before Inside Edition, Norville worked for CBS News but first became known for replacing Jane Pauley on the Today show, which did not end well.

In a statement, Viacom CEO Sumner Redstone said the new directors bring "valuable skills and complementary experience to our current board."

He cited Falcone Sorrell's "experience across global economies and her track record of launching innovative development campaigns" and Norville's "depth of knowledge based on her exceptional career in the media industry" to provide "important opportunities for our company in the future."

Viacom is currently struggling with low ratings and ad revenues at Nickelodeon and MTV, its key domestic networks. But the company's stock has remained buoyant as the company has cut costs, bought back stock and raised its dividend.

September