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CBS' interim CEO sees no "significant changes" in strategy after Les Moonves' departure

CBS Corp. posted strong results during the three-month period when CEO Leslie Moonves exited after allegations of sexual assault. And interim CEO Joe Ianniello stressed continuity in a conference call with analysts Thursday.

"I don't see any significant changes," Ianniello said in response to an analyst's question about the company's direction. Ianniello has appointed a new CFO and new chief creative officer, both of whom had come from CBS' Showtime division. "They've been with the company several years. These are seasoned veterans," Ianniello said.

He said CBS' success had come from content, and that would continue. "I don't see any change in that philosophy."

Only one analyst asked a question about Moonves and the changes to management. 

CBS had its best third quarter ever, Ianniello said. The company made a $690 million profit on $3.26 billion in revenue in the three months ending Sept. 30. 

Earlier this year, CBS sued its controlling shareholder, National Amusements, to avoid a merger with Viacom; it settled the lawsuit in September. The company has hired two law firms to investigate the allegations against Moonves and reports of a corporate culture toxic to women.

Moonves, who had led CBS since it split from Viacom in 2006, left the company on Sept. 9, six weeks after a story in the New Yorker detailing allegations of sexual misconduct. The stock sank on the initial report. But CBS shares were trading above $58 Thursday, slightly higher than their value just before the New Yorker report on July 27.

The CBS board is continuing its search for a permanent replacement for Moonves, with Ianniello a candidate to get the job on a permanent basis.

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