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CBS Corp. has been forced to change its board of directors. Due to health reasons, Richard Parsons has stepped down as both a member and as interim chairman of the board. Effective immediately, Strauss Zelnick replaces him as interim chair.

Parsons is a veteran of the financial and media industries, having previously served as chairman of Citigroup Inc., chairman and CEO of Time Warner Inc. and Chairman and CEO of Dime Bancorp Inc., among many other positions, board memberships and non-profit affiliations. He joined CBS’ board in May and had only assumed the role of interim chair in September, following Les Moonves’ expulsion from the company.

Parsons’ resignation comes as a result of health complications due to his ongoing bout with multiple myeloma. It is unclear at this time how this decision will affect his other current commitments.

Zelnick is currently executive chairman and CEO of Take-Two Interactive Software Inc. – one of the largest interactive entertainment companies in the world – and has been a member of the CBS board since September. He also serves on the board of Starwood Property Trust, and previously held executive leadership positions at BMG Entertainment Inc., Crystal Dynamics Inc. and Twentieth Century Fox Film Corp.

With a bevy of recent management changes and no permanent leadership currently in place, it will be interesting to see where CBS continues to go from here in the months to come.

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