In a lively morning of executive shuffles, AMC Networks said Sean Sullivan, chief financial officer, will be jumping to SirusXM in mid-October, as the satellite broadcaster announced that its CEO Jim Meyer and its CFO David Frear are both stepping down.
AMC Networks said it will appoint an interim CFO or successor prior to Sullivan’s departure.
SiriusXM said Meyer will retire on December 31 and Jennifer Witz, president, Sales, Marketing and Operations, will take the reins as chief executive.
CFO Frear “will be pursuing other opportunities, effective immediately,” SiriusXM said.
Witz, who has been with the company for two decades, “brings the thorough understanding of our business from every angle,” said Greg Maffei, the chairman of SiriusXM board. “She has played a key role in significantly growing SiriusXM’s subscriber base. Jennifer will lead the company’s strong executive team as it continues building out its platforms and executes on its growth strategies.”
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Maffei praised Meyer for growing the company into “a diversified audio entertainment provider that is poised to reach more than 150 million people, the largest addressable digital audio audience in North America. We are a better company for his stewardship. We look forward to continuing to work with him on the Board and to build on SiriusXM’s strong momentum.”
Witz, who has been with the company for two decades, “brings the thorough understanding of our business from every angle,” Maffei said. She has played a key role in significantly growing SiriusXM’s subscriber base. Jennifer will lead the company’s strong executive team as it continues building out its platforms and executes on its growth strategies.”
Sullivan had joined AMC Networks in 2010, prior to it becoming a separate public company the following year. In addition to his financial responsibilities, which include accounting, tax, financial planning, treasury and investor relations, he has overseen the company’s broadcast, information technology, media management and business intelligence functions.
AMC CEO Josh Sapan called Sullivan a “superb CFO” and “a critical member of the executive team and a valued business partner to me. Sean has played a key role in helping to diversify our business and maintain a strong financial profile, and the shows we’ve developed that have delighted fans were made possible in no small part by his financial planning and involvement.”