Redstone Departure Shows Boardroom Age and Control Issues

Succession fireworks at CBS Corp. and Viacom Inc. pose a pointed question for corporate boards about mandatory retirement ages–and another separate but interlocking one about the undue power that controlling shareholders hold over boards. Sumner Redstone, age 92, recently stepped down from his positions as executive chairman of the two companies, which he controls with some 80% of their voting shares. The current chief executives of the two companies replaced him.

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