Liberty Announces Top Execs to Retire

Apr 18, 2005  •  Post A Comment

John Malone’s Liberty Media announced Monday that two top executives at the company’s home shopping channel QVC will retire by 2007.

QVC President and CEO Doug Briggs will retire in March 2006, while Bill Costello, QVC’s chief operating officer, chief financial officer and president of the international division, will retire after the first quarter of 2007, the company said.

Mr. Briggs, who has been with QVC since its launch in 1986, has held the CEO post since 1995, after having served in various executive roles, including executive VP of electronic retailing and of programming and merchandising. During his tenure as chief executive, QVC’s annual revenue has grown to $5.7 billion in 2004 from $1.5 billion in 1994.

The company said it will begin the search for a new CEO–a process the company estimated would take six to nine months.

Despite the coming departure of top two executives, Liberty officials said they have received assurances from several other remaining QVC executives, including Darlene Daggett, president of U.S. commerce, that they have no plans to leave for the foreseeable future.