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Karmazin to stay on at Viacom
MUMBAI: Global media major Viacom Inc. has sealed a deal to keep president and chief operating officer Mel Karmazin on board for another three years.
The long drawn-out management drama that ended months of speculation, gives Karmazin a contract extension that cedes ultimate authority to chairman-CEO Sumner Redstone. Viacom has also announced a new contract with Redstone.
The Wall Street Journal was the first to break the news that Karmazin was indeed staying. Viacom’s board met Wednesday afternoon to thrash out the final terms of the deal.
Viacom’s Big 2 Sumner Redstone (left) and Mel Karmazin – keeping egos aside to work together. (Picture courtesy news.bbc.co.uk)
The 79-year-old Redstone, who owns a controlling stake in Viacom, gave Karmazin effective operating control of the company when the two were negotiating Viacom’s acquisition of CBS. The 59-year-old was CBS’s chief executive before the merger, which was completed in May 2000 and is now considered one of the few media mergers that has been a success, agencies report.
The deal removes a major distraction at a time when Viacom’s business is under pressure as the advertising market appears to be weakening ahead of the impending war with Iraq. The company gets about half its revenue from advertising, making it more exposed than most other media firms.
In a statement Thursday, Redstone was quoted as saying: “I am very pleased that Viacom will continue to benefit from Mel’s leadership and talent. The CBS merger brought many great assets together under the Viacom name, and Mel has done a masterful job of integrating those businesses and operating them at peak performance. I look forward to continuing our successful partnership and taking Viacom to new heights in the years to come.”
The company release quoted Karmazin as calling Redstone a great visionary.
New York-based Viacom had 2002 profits of $726 million on $24.6 billion in revenues, reversing a $224 million loss in 2001.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
