Shares of Viacom dipped more than 4 percent Monday after the company announced a resolution to a governance dispute that resulted in CEO Philippe Dauman's resignation.
Tom Dooley will serve as Viacom's interim CEO.
Pivotal Research Group downgraded Viacom's stock in early August to "hold" from "buy" because of the company's earnings report. On Monday, Pivotal senior analyst Brian Wieser said the leadership change may not bring much of a shift for Viacom.
"Dooley, while very competent and very capable, doesn't represent a meaningful difference from having Dauman in charge," Wieser said.