Joe Uva, the president and CEO of Univision, is leaving the company, Univision has announced.
According to the announcement, Uva "has informed the Board of Directors that he has chosen not to renew his employment agreement in order to be able to seek other opportunities."
The day Uva’s contract ends, April 2, 2011, will be his last day at the company, the announcement said, adding that Univision "will commence a search process for a new CEO immediately. To ensure a smooth transition, Mr. Saban will assume additional responsibilities in his role as Executive Chairman until a new CEO is appointed."
In the announcement, Haim Saban, Executive Chairman of Univision said, “On behalf of the Univision Board of Directors, we would like to commend Joe for his tremendous contributions over the past four years. Univision is a better company today due to Joe’s efforts in building a strong leadership team and positioning Univision for long-term success. Univision’s business is strong, and the entire management team remains focused on delivering value to its customers and stakeholders. We wish Joe the best in his future endeavors.”
Also in the announcement Uva was quoted saying, "“My four years as President and CEO of Univision have been extremely exciting and rewarding. I believe our team can be proud of the accomplishments that we achieved during my tenure. Although I will miss working with the many talented professionals at Univision, the team is strong and I have decided the time is right for me to capitalize on other opportunities. I know that Univision will continue its great success as the premier Spanish-language media company in the U.S.”
Uva, 55, came to Univision on April 1, 2007 from his post as president and CEO of media agency OMD Worldwide. Prior to joining OMD in 2002, Uva spent 17 years at Turner Broadcasting ad sales.
He started his career in media as a media planner at McCann Erickson and Grey Advertising.