Tuesday, May 24, 2016
This is what happens when an entrepreneur fails to put succession and communications plans in place. The executive suite of Viacom is in a mess with lawsuits flying and challenges to the mental competency of Sumner Redstone. It has to impact the media and entertainment properties below and to leave employees guessing who will win and what their guidance will be. At very least, it has interrupted executive decisions as to the course of the company. And, it was all unnecessary had Redstone himself when he was still firmly in charge put an orderly succession process in place and communicated it to the board and senior executives. So now, the ugly scene will play itself out in court before the public and both the companies and employees will suffer. It is sad when things so basic are ignored.