JEFF FAGER ANNOUNCES HIS DECISION TO RETURN TO ROLE AS EXECUTIVE PRODUCER OF "60 MINUTES" FULL-TIME AND TO STEP DOWN FROM POST AS CHAIRMAN OF CBS NEWS DAVID RHODES, PRESIDENT OF CBS NEWS, TO ASSUME SOLE LEADERSHIP OF THE DIVISION, EFFECTIVE JAN. 1

Jeff Fager, Chairman of CBS News and Executive Producer of 60 MINUTES, today announced his intention to step down from his role as chairman and to return to full focus on running the acclaimed newsmagazine, effective at the beginning of the new year. At that time, David Rhodes, who has been President of CBS News since 2011, will assume sole leadership of the division.

At the same time, CBS announced that Fager has extended his term as Executive Producer of 60 MINUTES to early 2019.

In making the announcement, Fager said: "When Leslie Moonves asked me to take the job of chairman, we agreed that when the time was right I would be able to return to 60 MINUTES full-time. I can't imagine a better time for that than right now. So much about CBS News is going well, and I am extremely proud of where we have come in these four years. Just in this past month, we reached new heights. Our election coverage was the best it has been in a long time. FACE THE NATION is celebrating 60 years on the air, and it as strong as it has ever been. Our new streaming news service, CBSN, is up and running after an exciting and successful launch. Every day, the people of this news organization are turning in the kind of high-quality reporting that is in keeping with our identity and heritage as the home of the best in broadcast journalism. I am confident that this record of achievement will only get better with David Rhodes, my friend and partner in all of this, continuing as president. I hired him almost four years ago with this moment in mind, and he has exceeded all expectations."

Leslie Moonves, President and CEO of CBS, said: "I would be remiss if I did not take this opportunity to express my profound admiration and gratitude to Jeff for the job he has done as chairman, as he, David Rhodes and the entire CBS News team have built and solidified the division's longtime status as the finest news organization in the business. In Jeff and David we possess what has proven to be an unbeatable team, combining the wisdom, experience and proven creative track record of an industry leader with one of the most dynamic, exciting and seasoned young management voices in television news. We have come a long way under the leadership of that team. Now Jeff has convinced me that the time has arrived for the next step in the plan we implemented almost four years ago - for Jeff to return to an exclusive focus on a broadcast that defines the greatness of CBS, and for David to assume the sole leadership of CBS News."

David Rhodes, President of CBS News, said: "Jeff is a great mentor and a close friend who has been my guide to CBS News since I arrived here in 2011. We've accomplished so much with him as chairman, and I am reassured that he will continue to be a resource to me and to the whole news organization. It's terrific having Jeff continue as executive producer of our most important broadcast."

Fager also cited a number of key gains that have been made during the past several years. "I am particularly pleased at how this organization has accomplished a transformation in keeping with our heritage and values as the best in broadcast journalism," he said. "We have created a morning news program that has gone against conventional wisdom of morning TV in its dedication to covering news, and that has been growing ever since. We have rebuilt the CBS EVENING NEWS WITH SCOTT PELLEY in the same way, and it too has grown its audience by focusing on a commitment to coverage of important stories and excellent storytelling. And I believe we have at the same time instilled those standards and values in all of our reporters on and off the air, and as a result becoming the place to go for coverage of important breaking stories and special news events."

Moonves concluded: "We would not be in such a strong position today were it not for Jeff's leadership and his willingness four years ago to supplement his role at 60 MINUTES with the duties of chairman as David integrated himself into CBS News. I want to thank him for all he has done, and all I know he will do in the years to come. I am confident that under the leadership of David Rhodes as president, we will bring CBS News to even greater heights."