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before it merged with Viacom in 2000 Instead, Redstone said he learned of Karmazin's decision to resign through another executive, whom he did not name , owner of CBS, MTV and Nickelodeon, as the media giant seeks to find a successor for its 81-year-old chairman and CEO, Sumner Redstone " Freston has been chairman and CEO of the MTV Networks unit since 1987 Redstone suggested that Viacom's new management team would consider getting rid of the radio business, saying the company would have a "hard look" at the radio operation as well as other assets Karmazin was highly regarded in the industry and on Wall Street for his leadership of Viacom Redstone said on the conference call that it was "extremely likely" that he would be succeeded by either Freston or Moonves as CEO However, the sudden loss of Karmazin is likely to disappoint many on Wall Street " At Viacom's annual meeting two weeks ago, Redstone said he and Karmazin had never had a major disagreement Moonves has been chairman and chief executive of CBS since 2003 and joined CBS in 1995 as president of its entertainment operation He also said Karmazin would stay on as a consultant for two months to help with the transition Even though Redstone has voting control of Viacom through a special supervoting class of stock, he made clear in his announcement that he was working with the company's board on the succession issue In a note to investors, Merrill Lynch analyst Jessica Reif Cohen called Karmazin's departure "a very significant negative" factor for the company since Karmazin was "an extremely talented operating executive " " Karmazin worked in radio for much of his career, and is known to be close to several of Viacom's leading radio personalities including Howard Stern and Don Imus Karmazin worked his way up through the ranks in the radio business, and became the head of CBS Corp In a separate conference call with reporters, Redstone parried several other questions about the reasons for Karmazin's departure Investors took the news of the management shakeup in stride Imus broke the news of Karmazin's departure early Tuesday morning on a show broadcast by MSNBC In a conference call with Wall Street analysts, Redstone said Karmazin left because of "frustration" with the company's sagging stock price and issues related to the company's radio division, which has been struggling He will work with the company's board to identify a new CEO and other senior executives before then "He just decided he was better off going in another way However, he also acknowledged that Karmazin did not discuss his decision to resign with Redstone directly In late morning trading, Viacom's widely held "B" class shares were up 8 cents at $36 Redstone stressed that no one at Viacom had asked Karmazin to resign " Redstone said "Mel was frustrated about something â€â€? I hope it wasn't about me Two senior executives were named to replace Karmazin, MTV boss Tom Freston and CBS leader Leslie Moonves, the company announced Tuesday 97 in heavy trading on the New York Stock Exchange Redstone said he regretted Karmazin's departure and wished him well The company described the moves as part of a corporate succession plan under which Redstone will relinquish his role as CEO within three years He also said the company would be making an announcement soon about its succession plans Karmazin Resigns As President of Viacom Jun 1, 1:13 PM EST Mel Karmazin resigned suddenly as president and chief operating officer of Viacom Inc On the call, Redstone dimissed peristent concerns that he had a rocky relationship with Karmazin Investors have been pressing Viacom to clarify its plans for succession, especially given Redstone's age He also said Karmazin had been in the running as a candidate to succeed him as CEO In their new roles, Freston and Moonves will jointly oversee all of the operations of Viacom In a statement, he said that "After more than 20 years with the company, for personal and professional reasons, I have decided to leave Viacom and pursue other challenges Karmazin did not elaborate on his reasons for leaving They will run the company on a day-to-day basis and report to Redstone "But for the time being we're committed to radio "There is no sacred cow," Redstone said I prayed faithfully for healing but my hair never came back Finally, I agreed that if necessary, they could show me bald but I'd rather it be split second and not focus on me It was the best thing that could have happened because there was no time to think about it, I just did it! When it was over, I had a natural high and when I was alone with my husband later that afternoon he looked at me and said, "I'm really proud of you - that took guts I open the door of my life to you and ask you to come in as my Saviour and Lord All you have to do is ask Him I know how hard it was to grow up "different" and be a Christian and have a Savior to call on that was faithful and loving " And you know, that's all I really wanted to do Then reality hit me with one simple question - was I willing to take my wig off on camera? Would I show them the real me? I lost sleep thinking about it What love he must have for me If this prayer expresses the desire of your heart, pray it right now and Christ will come into your life just as He promised It would have made all the difference in the world I was constantly teased and tormented at school, had few friends and was told that I would never find a husband They assured me that they probably wouldn't even need to do it so don't worry about it As you learn more about your relationship with God, and how much He loves you, you'll experience life to the fullest Take control of my life He was completely at peace knowing that his mother is bald, it didn't bother him a bit I decided that: Bald is beautiful I will love myself I will be confident in my abilities I will have peace in knowing that I am bald Letting Other People See Me I accepted that I could live with being bald Fearing rejection, I hid the fact that I wore a wig for fifteen years, even as an adult, even while modeling I wanted to help others Since I didn't have that person, I want to be that person Thank you for forgiving my sins and giving me eternal life If you are alone or hurting, you can have personal relationship with Jesus Christ like I do I can't imagine how hard it must be to go through life's hurt and trials alone I am not the willow six-foot-tall blond you often see sashaying down the runway I knew the effect teasing had on the way I saw myself growing up I could have been spared so many doubts, questions and fears I never even left the house without my wig I wanted to spare other kids from being made to feel worthless because of someone else's thoughtless comments If you invited Jesus Christ into your life, thank God often that He is in your life, that He will never leave you and that you have eternal life He didn't see me as different than any other normal person WITH hair I've gone through years of humiliation and low self esteem because I was different God loves you with a love that embraces you whether you are over weight, under weight, handicapped or like in my case bald Showing the World the Real Me The first day of filming, the producer didn't ask me if I wanted to film bald, she simply told me we were going to The only physical side effect of the disease is hair loss, but the emotional and social impact of growing up bald is huge After fifteen years, I finally came to the realization that the only way God (a God who I know loves me so much) can stand by and watch all of these terrible things happen to His own child is because He knows that He has great things in store for me His acceptance challenged me to change my life and I decided to start by changing the way I thought about myself God knows your heart so it doesn't matter which words you use, but here's a suggested prayer: Lord Jesus, I want to know you personally Make me the kind of woman you want me to be I am 5'5" and due to childhood illness I have been completely bald since I was nine years old I would have given anything to have someone tell me they understood what I was going, that it was OK to be different, that if I just hung in there and was strong I would be victorious It was during this time that I was booked as a guest on The Learning Channel's show "A Make-Over Story " I was so excited! I was getting the works and it would be aired on national television with millions of viewers! I was going to get a little bit of celebrity The thought of going bald, and on television made me nauseous He gently rubbed my baldhead and said, "Momma, your hair is so pretty!" As I began to quiz him it hit me that he really did think that my bald head was pretty I really think this show could reach people and touch someone's heart Thank you for dying on the cross for my sins Changing the Way I Saw Myself One day my son, then only two years old approached me while I was sitting in the bed watching TV It's OK to Be Different, Different is Still Beautiful by Laura Hudson I modeled a great deal as a teenager, but I don't fit the mold set by the modeling industry My hair loss is due to Alopecia Areata, an auto-immune disorder for which there is no cure I wanted to help children understand why teasing hurts and how much damage it can do After many nights of watching the news and seeing it full of violence in schools often brought on by low self-esteem , I knew I had found my mission |
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