Viacom Exec Farid Suleman Resigns
NEW YORK (AP) _ Farid Suleman, head of Viacom Inc.’s large radio subsidiary and one of the media conglomerate’s top operating executives, is resigning to become chief executive of Citadel Communications Corp., a major radio company.
Suleman, who was a top lieutenant to Viacom’s president Mel Karmazin, will also become a special limited partner at Forstmann Little & Co., the buyout firm that owns Citadel.
Suleman is leaving one of the top positions in the radio industry for a more entrepreneurial post, where he will have the financial backing of Forstmann Little to build Citadel into a larger player. Forstmann said in a statement that Suleman would ``focus on acquisition opportunities″ at Citadel.
The move took radio insiders by surprise since Suleman was so close to Karmazin, with whom he worked to build Infinity Broadcasting Systems into one of the largest players in the radio business.
``I want to thank Farid for his 16 years of service and leadership at Infinity, where he was a driving force in the division’s growth and expansion,″ Karmazin said in a statement. ``We wish him well as he moves on to this entrepreneurial opportunity.″