Re: Sumner Boots Mel

[Donna Halper <dlh@donnahalper.com>]

Roger wrote:
>NY Times article today quotes Sumner Redstone as saying
>he will not renew Mel Karmazin's contract in 2003.

The Times article begins:  Sumner M. Redstone, chairman and chief executive 
of Viacom told the company's board at a special meeting on Wednesday that 
he would not renew the contract of its president, Mel Karmazin, after Mr. 
Karmazin's term ends in May 2003, several people close to the board said 
yesterday.

In announcing that he would let Mr. Karmazin go, Mr. Redstone did not 
criticize Mr. Karmazin's corporate strategy or decisions but said that Mr. 
Karmazin's hard-charging management style did not mesh with Viacom's 
corporate culture. He also said that several fund managers had told him 
that Mr. Karmazin's departure would not hurt the stock and that Mr. 
Karmazin was not the man Mr. Redstone wanted to lead the company in the 
future, the people said. [rest of article snipped]

But Donna reminds everyone that Mel is a street-fighter from way back, and 
we shall see if he takes this lying down... I don't think he will go quietly.