Word: tisch
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...September, just days after taking over as chief executive of CBS, Laurence Tisch decided he needed a traveling companion for a trip to Washington, where he was to meet staffers at the network's largest news bureau. He called Howard Stringer, who had just been made acting chief of CBS News, and suggested that the two ride the Metroliner together in order to talk. For Stringer, then a leading candidate for the job of CBS News president, the train ride was apparently a success. "It was clear that Tisch had gained a great deal of respect for Stringer," says...
...lose it. Last week Stringer, 44, was named president of CBS News, the third person to hold that post in less than a year. Last December Edward Joyce was ousted and replaced by his boss and predecessor, Van Gordon Sauter. Nine months later Sauter himself was forced out after Tisch wrested control of the company from then Chairman Thomas Wyman. The appointment of Stringer, a highly regarded 18-year veteran of CBS News, brought cheer to most staffers and may have finally signaled an end to a painful period of turmoil at TV's most prestigious news division...
...hours. Board members heard legal opinions that they had no obligation to put CBS up for sale. But as one of those present put it later, the directors were also warned ; that "once you begin entertaining outside offers, you have to listen to all offers." A participant recalls that Tisch declared once again that his stock ownership "wasn't a takeover by Loews. He emphasized that he had a big stake in the company and that he was willing to work very hard as a director...
Finally, with Paley, Tisch and Wyman out of the room, the remaining directors reached a unanimous decision. "The board was not willing to put the company up for sale," said one of them. "Once that was conveyed to Mr. Wyman, he resigned." The rest of the marathon meeting was spent on arrangements to hand over temporary control of the company to the new team of Paley and Tisch...
...would hear about important things for the first time at meetings." But overall, in this view, Wyman's record during his tenure was "not sufficient to call for dismissal." At the same time, the change was "really foreordained," given the strong feelings that had arisen between Wyman, Paley and Tisch...