Mr. Dooley, formerly Senior Executive Vice President, Chief Financial Officer and Chief Administrative Officer, will continue to report to Mr. Dauman and to serve as a member of the Viacom Board of Directors. Mr. Dooley was named CAO of Viacom in September 2006 and CFO of the Company in January 2007. In his new role, Mr. Dooley agreed to extend the term of his employment by five years through December 2016. His previous agreement was set to expire in December 2011.

Mr. Dooley will oversee the Company's financial, legal, strategic planning, human resources, investor relations and communications activities. He will continue to work closely with Mr. Dauman on setting Viacom's strategic and operational direction and to work with the operational teams in the Company's media networks and motion picture divisions. The Company's divisional CEOs will continue to report to Mr. Dauman. Mr. Dooley will serve as Viacom's Chief Financial Officer until a successor is named.

Mr. Dauman said, "Tom is an extraordinary executive with financial and operational experience that extends more than 30 years, the great majority of which he has spent here at Viacom. Tom has also been my partner and friend for well over two decades and I could not be more delighted that he has agreed to extend our successful collaboration for the benefit of our entire organization and all Viacom shareholders.

"Tom's leadership, financial acumen and operational skills have enabled him to successfully serve Viacom in a variety of important and impactful roles and to make immeasurable contributions to the growth and prosperity of our Company during a time of great change in the media industry. Most recently, during his tenure as CFO and CAO, he strengthened Viacom's financial position to historic levels, despite a very challenging environment, and worked side by side with me on our mission to create a best in class creative organization that is well prepared for continued leadership and success. Today's announcement ensures that Viacom and I will continue to benefit from Tom's knowledge, energy and intellect well into the future."

Mr. Dooley said, "I have had the good fortune to be associated with Viacom for most of my career, working with extraordinary leaders like Philippe and visionaries like Sumner Redstone, as well as with so many colleagues who define excellence and are some of the smartest and most creative people in any industry. As interesting and rewarding as this has been, I know that the best is still ahead as we work together to fully embrace the vast opportunities coming from technological change around the world. I am looking forward to continuing to work with Philippe, who has been both a close friend and a remarkable collaborator for so many years, to build on Viacom's legacy of success."

Before being named to his most recent role, Mr. Dooley served in a number of senior executive positions at Viacom, including as Deputy Chairman along with Mr. Dauman from 1996 to 2000. From 2000 to 2006, he and Mr. Dauman were Co-Chairmen and Chief Executive Officers of DND Capital Partners, LLC, a private equity firm specializing in media and telecommunication investments. Mr. Dooley held various corporate positions at Viacom from 1980 to 2000, including serving as a member of the Executive Committee and as Executive Vice President, Finance, Corporate Development and Communications. He served as a member of the Viacom Board from 1996 to 2000 and rejoined the Board in 2006. Mr. Dooley is a Trustee of the North Shore-Long Island Jewish Health System.

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