Citing a desire to be back in the U.S. to spend more time with his family, Discovery Networks International (DNI) president and CEO Mark Hollinger (pictured) has announced his intention to resign when his contract expires next June.
Discovery’s board and executive team is beginning the search for Hollinger’s successor immediately.
“Having spent 150 or so days away from home during each of the last several years, most often many time zones away, I am looking forward to being back in the U.S. full-time and spending more time with my family,” he said in a statement.
“It really is the only reason I would leave such a terrific company and such a wonderful team of people. Working at Discovery has been one of the great joys of my life, and I couldn’t be prouder of all that the company has accomplished in my time here.”
After joining Discovery Communications in 1991 as vice president and deputy general counsel, he moved into several leadership positions, including chief operating officer, president of global business and operations, and senior executive vice president and general counsel.
As DNI president and CEO, Hollinger oversees strategic development and operations for the cable giant’s 42 global entertainment brands, which air programming in 45 languages to more than 1.6 billion cumulative subscribers in 224 countries across Europe, the Middle East, Africa, Asia-Pacific and Latin America.
During his tenure at DNI, Hollinger has significantly grown the company’s presence in Europe. Last year, the company acquired ProSiebenSat.1 Group’s SBS Nordic operations for US$1.7 billion and bought a 20% stake in the Eurosport group for $221.6 million.
“Mark is a consummate professional and amazing leader who has made a huge impact on all of us at Discovery Communications over the 23 years he has been at the company, and I am so grateful for his contributions, leadership and unwavering integrity,” Discovery Communications president and CEO David Zaslav said.
“It is no surprise that the sense of family and being home for his wife and children has brought Mark to the realization that now is a good time to come back to the U.S. full-time to be with them. While this is a great loss to the company, I could not be happier for him or more supportive of his decision,” Zaslav added.