Thursday, July 18, 2013

Turner Broadcasting CEO Phil Kent Stepping Down

Phil Kent
Phil Kent, chairman and chief executive officer of Atlanta-based Turner Broadcasting System Inc., told colleagues Wednesday he will not renew his contract with the company when it ends next year.

In a letter obtained by The Atlanta Journal-Constitution, Kent said his decision followed many conversations with Time Warner CEO Jeff Bewkes over long-term leadership planning for Turner, a company started by cable TV pioneer Ted Turner but is now a division of Time Warner.

Chief Financial Officer John Martin will assume the title of CEO at Turner in January. Kent will remain chairman during a transition period next year

John Martin
“Nothing changes for me or any of you until then,” Kent told colleagues. “ I’ll come in tomorrow and be on the job with the same enthusiasm as today, just as I know you will.“

In an effort to reverse poor ratings at CNN last fall, Kent hired former NBCUniversal President Jeff Zucker in November to replace Jim Walton as head of the struggling Atlanta based cable news network.

Before being named CFO in 2008, Martin had been executive vice president and CFO of Time Warner Cable Inc. since August 2005. Before joining Time Warner Cable, he spent nearly 12 years at Time Warner, most recently serving as senior vice president for investor relations from 2002 to 2005.

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