The high-profile fight for control of Viacom intensified Monday as founder Sumner Redstone removed CEO Philippe Dauman from a trust that will control it when Redstone dies or is declared incompetent. But Michael Morris, entertainment and media analyst at Guggenheim, says the shake-up in leadership could be a good thing.
"The only path for shareholder appreciation at this point is a change in management," Morris told CNBC's "Power Lunch" Monday. "The share price reflects it, it's been quite a laggard relative to the peer group."
Shares of Viacom are down more than 40 percent year over year, although the stock price had a 3 percent uptick following the news Monday.
"I'm a sports fan; I believe in batting average,"" Morris said, adding that Dauman has been at the helm of Viacom since 2006. "The current team has had long enough to establish a batting average; it's a poor batting average, at this point I think the company needs a new strategic direction."