Discovery Communications announced today that a high-ranking executive will be leaving the company. Discovery said Chief Financial Officer Andrew Warren will exit after almost five years with the company.
“To ensure a seamless transition of his responsibilities over the next several quarters, Warren will remain at Discovery through the end of 2016,” the company announced.
The announcement notes that Howard Fischer Associates will be engaged to lead the search for a new CFO, with the company beginning the search internally and externally.
In the release, David Zaslav, president and CEO, Discovery Communications, said: “Discovery is a better company because of Andy Warren and I cannot say enough about his commitment and collaboration over the past many years. Andy has brought a focus on capital allocation and our balance sheet that has helped drive strong organic and free cash flow growth. Under his guidance we have invested in more original content and sports IP, diversified our global businesses and platforms and developed innovative currency and tax management strategies. He has been a valued partner to me and a dedicated leader for our company.”
The announcement adds: “Among his many accomplishments at Discovery, Warren has led the financing and the financial integration for the $1.7B acquisition of SBS Nordic and the acquisition of Eurosport, and led over $3 billion of USD and Euro debt issuances as well as the company’s successful tax and capital allocation strategy. He also built a world-class global finance team; led the upgrade of the company’s technology infrastructure; and oversaw financing for several global agreements focused on IP and content investment, most recently Discovery and Liberty Global’s joint-venture acquisition of All3Media, and Discovery’s deal to acquire the multiplatform rights to the Olympic Games in Europe beginning in 2018.”