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(From CBS Marketwatch (Stories))
NEW YORK (MarketWatch) -- Viacom Inc. on Tuesday said Tom Freston resigned as president and chief executive officer, and will be replaced by Philippe Dauman.
The media giant, which runs the MTV and Nickelodeon networks and Paramount Pictures, said the board also named Thomas Dooley to the newly created position of senior executive vice president and chief administrative officer.
Freston, 60, has been with Viacom for 26 years.
"Tom successfully built MTV Networks into an unmatched force in the entertainment industry and assembled a best-in-class operational team to build on that foundation," Viacom Executive Chairman and Viacom founder Sumner Redstone said in a statement. "Tom has been a friend and a colleague for many years and we wish him well as he moves on to the next stage of his career."
Dauman and Dooley are currently members of the Viacom board and have served in a number of senior executive positions at the company, including as deputy chairmen from 1996 to 2000.
Dauman, 52, will report to Redstone and to the Viacom board. Dooley, 49, will report to Dauman.