If there was any doubt that Sumner Redstone and daughter Shari really aren’t getting along these days, Sumner made it clear Friday afternoon by airing the family laundry in a faxed letter to Forbes magazine.
Shari had at one point been her father’s heir apparent, but no longer. Sumner Redstone, in a letter sent Friday afternon to Forbes National Editor Robert Lenzer, describes the issue as a matter of corporate governance. “While my daughter talks of good governance, she apparently ignores the cardinal rule of good governance that the boards of the two public companies, Viacom and CBS, should select my successor,” Redstone wrote in his letter.
But this is clearly an issue that has little to do with corporate boards. Sumner’s kicker: “It must be remembered that I gave to my children their stock; and it is I, with little or no contribution on their part, who built these great media companies with the help of the boards of both companies.” Forbes