Discovery Communications’ chief financial officer Andrew Warren is departing from the company by the close of 2016.
Warren, having served nearly five years with the Silver Spring-based media giant, says his decision to leave was “a difficult and personal one” but that he intends on remaining a long-term shareholder, and will stay to the end of the year to ensure a smooth transition.
In making the announcement, the company credited Warren with leading the financing for the US$1.7 billion acquisition of SBS Nordic, as well as the acquisition of Eurosport, and several agreements focused on IP and content investment, including the Discovery/Liberty Global joint venture purchase of All3Media, and Discovery’s move to acquire European multi-platform rights to the Olympic Games, beginning in 2018.
“Discovery is a better company because of Andy Warren and I cannot say enough about his commitment and collaboration over the past many years,” said David Zaslav, president and CEO of Discovery Communications, in a statement. “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.”
The search for a new CFO will be conducted internally and externally, with Howard Fischer Associates leading the process.