Press release from Turner Broadcasting System, May 12, 2015:
Turner Broadcasting System Chairman and Chief Executive Officer John Martin today announced a reorganization of the Turner senior management reporting structure and changes to its senior management team.
Doug Shapiro has been appointed to Executive Vice President and Chief Strategy Officer. Mr. Shapiro is currently Senior Vice President, International and Corporate Strategy for Time Warner Inc., Turner’s parent company. He will assume the role in July of this year.
As part of the reorganization of his senior management team, Mr. Martin announced that Chief Human Resources Officer Angela Santone will now report directly to him. In addition, the Company is commencing a search for a new head of Communications, who will also report directly into Mr. Martin.
The Turner executive management team will now include: President of Turner Broadcasting System, Inc. David Levy; President of CNN Worldwide Jeff Zucker; President of Turner Broadcasting System International Gerhard Zeiler; Chief Financial Officer Pascal Desroches; General Counsel Louise Sams; Mr. Shapiro; Ms. Santone; and the yet-to-be appointed communications head.
In making the announcement, Mr. Martin said: “Turner has made meaningful progress in delivering on the ambitious growth mandate I put in place last year. This is an extremely talented executive team with a sense of purpose, all of whom are immensely invested in the ongoing success of Turner. I have great confidence in this team and in our future.”
In appointing Doug Shapiro, Mr. Martin said: “I’ve worked with Doug for many years at Time Warner and have great appreciation for his ability to consistently push our company to be at the forefront of innovation and change. By melding his understanding of the business with research data and industry trends, Doug has helped shape the strategic direction of Time Warner, and the industry, since the day he joined the Company. I look forward to having Doug on the Turner team as we further chart innovative strategies that contribute to our continued success.”
Mr. Shapiro said: “I’m thrilled to have the opportunity to join the outstanding executive team at Turner and work directly with John again. Innovation is in Turner’s DNA. From the launch of the first 24-hour cable channel to the early adoption of TV Everywhere, it has been a driving force in the television industry and I look forward to contributing to the ongoing evolution of our company and the media sector.”
In his new role, Mr. Shapiro will be responsible for furthering Turner’s global corporate strategy and will work with executive team members to identify business models and strategies that contribute to the continued growth of the Company. Additionally, he will oversee Turner’s domestic Research and Consumer Insights team and its Media group.
Mr. Shapiro moves to the Turner division from Time Warner Inc. where he is currently the Senior Vice President of International and Corporate Strategy. From 2008 to 2013, Mr. Shapiro headed up Time Warner’s Investor Relations group. Prior to joining Time Warner in 2007, he was a senior analyst at Banc of America Securities from 1999 to 2007. Mr. Shapiro covered the Cable and Satellite TV and Media Conglomerate sectors and was the head of the Media and Telecommunications research team. Mr. Shapiro received a B.A. degree in economics from the University of Michigan.
Since becoming CEO in 2014, Mr. Martin has taken steps to further invest in programming and brands to differentiate the Turner networks and its content, which has included improving the Company’s competitive position internationally with smart investments and increased profitability. He has also charged the organization with further utilizing the latest technologies to increase the value to, and deepen engagement with, consumers and advertisers. Last year, he led the execution of an ambitious plan to improve efficiency, productivity and to better allocate financial and human resources across the Company. In its recent quarterly earnings announcement, Time Warner reported that in the first quarter of this year, Turner’s adjusted operating income increased 26% to $1.1 billion, its highest quarterly profit ever.