NEW YORK, July 22 /PRNewswire-FirstCall/ -- Adam Townsend has been
named Executive Vice President, Investor Relations for CBS Corporation
(NYSE: CBS.A and CBS), it was announced today by Leslie Moonves, President
and CEO, CBS Corporation and Marty Shea, Executive Vice President, Investor
Relations, who has led CBS Investor Relations since CBS became a
stand-alone company in January 2006.
An experienced financial services executive who most recently led
E*Trade's Investor Relations and Corporate Strategy operations, Townsend
will now oversee CBS's daily outreach to the investment community,
reporting to Moonves and Shea.
"Adam brings a unique perspective to the Investor Relations role,
having served on both the buy-and-sell sides of the business," said
Moonves. "He has more than 10 years of experience covering online
consumer-driven business models, as well as significant background
in-house, including being involved in more than $5 billion of transactions
at his previous role with E*Trade. I'm confident that working with Marty,
Adam will do terrific work in sharing our story with the investment
community."
"Adam is very well regarded in the industry," added Shea. "We look
forward to all he'll do in this key role in the Investor Relations
department."
Townsend most recently served as Managing Director of Investor
Relations and Corporate Strategy for the E*Trade Financial Corporation,
which included working with its CEO on identifying global expansion
opportunities, providing quarterly presentations to its board of directors
on the company's competitive positioning, public/investor perception, stock
valuation and analyst research coverage. He also oversaw E*Trade's
communications strategies through more than $5 billion in transactions over
four years. Before that, Townsend handled the company's financial
communications, including news releases, quarterly earnings calls,
shareholder presentations and investor marketing materials.
Previously, Townsend worked as an Equity Research Analyst for JP Morgan
Securities' Financial Institutions Group, where he was responsible for
primary research coverage of publicly traded companies in the online
trading and investing technology sector, performed company valuation
analysis, authored equity research reports and built financial models to
forecast financial performance of companies he covered. Before that he
worked as a Management Trainee on the buy side for Franklin Templeton
Investments.
Townsend graduated in 1995 with a bachelor's of science degree from the
University of California, Los Angeles.
About CBS Corporation
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with
constituent parts that reach back to the beginnings of the broadcast
industry, as well as newer businesses that operate on the leading edge of
the media industry. The Company, through its many and varied operations,
combines broad reach with well-positioned local businesses, all of which
provide it with an extensive distribution network by which it serves
audiences and advertisers in all 50 states and key international markets.
It has operations in virtually every field of media and entertainment,
including broadcast television (CBS and The CW - a joint venture between
CBS Corporation and Warner Bros. Entertainment), cable television (Showtime
and CBS College Sports Network), local television (CBS Television
Stations), television production and syndication (CBS Paramount Network
Television and CBS Television Distribution), radio (CBS Radio), advertising
on out-of-home media (CBS Outdoor), publishing (Simon & Schuster),
interactive media (CBS Interactive), music (CBS Records), licensing and
merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment),
in-store media (CBS Outernet) and motion pictures (CBS Films). For more
information, log on to http://www.cbscorporation.com.
SOURCE CBS Corporation
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CONTACT:
Dana McClintock, +1-212-975-1077,
dlmcclintock@cbs.com
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