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 Posted:
Tue Mar 08, 2005 6:20 am Post subject:
OT But still Sat related. |
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DirecTV CEO to Leave, Won't Be Replaced
DirecTV Inc. Chief Executive and President Mitch Stern is leaving the
company, it said Monday.
The chief executive and president of parent company DirecTV Group Inc.,
Chase Carey, will now oversee the day-to-day operations.
DirecTV has been evolving into a single operating company, eliminating the
need for a new unit president, the company said.
The El Segundo direct-broadcast-satellite provider doesn't plan to replace
Stern, who joined the company in December 2003. The company said it was a
"mutual decision" between the Carey and Stern for Stern to leave the
company.
"While it was exciting to be part of such a dynamic organization, the time
was right for me to move on," Stern said.
Carey was named chief executive and president of DirecTV Group in December
2003. Under Carey's leadership, the company said sold noncore assets and
focused on its satellite-television businesses in the United States and
Latin America.
DirecTV's shares rose 2 cents to $15.40 in afternoon trading on the New York
Stock Exchange.
DirecTV Group is 34 percent owned by Fox Entertainment Group Inc., which is
controlled by News Corp. |
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