Hispanic-American media company Univision Communications Inc. (UCI) has appointed television veteran Vincent Sadusky to chief executive officer, effective June 1, as Randy Falco retires from his role of president and CEO.
Sadusky (pictured) will take the reigns from Falco after he disclosed his intention to step down earlier this year after nearly eight years with the company. Falco will remain an advisor to the media company through the end of 2018.
“Over the last eight years, Randy has led the transformation of UCI into a modern media organization with a diverse portfolio of assets, sterling brands and content that audiences and marketers want, backed by strong earnings growth, a significantly improved balance sheet and a team of motivated and purpose-driven employees,” said Haim Saban, chair of UCI’s board of directors, in a statement.
Saban added: “Randy has always recognized and embraced Univision as an incredibly unique company with a mission and vision that goes well beyond traditional media. On behalf of the entire board, I want to thank Randy for his leadership, commitment and partnership, and congratulate him on his retirement.”
Falco’s departure comes mere months after UCI had extended Falco’s contract in November 2017 to keep him on at the Spanish-language media giant through to Jan. 31, 2020.
Sadusky, who both served as president and CEO of Media General and LIN Media, will become a member of the Univision board of directors.
At Media General, Sadusky was an integral piece in building a more comprehensive, integrated and competitive offering across all of its markets, and played a critical role overseeing the LIN Media’s merger with Media General. He has also held several executive positions at Comcast-owned Spanish net Telemundo Communications, including CFO and treasurer.
The executive also serves as a board member of Hemisphere Media Group, the National Association of Broadcasters and NBC Affiliates. He also currently serves on the board of directors of International Game Technology.
“Vince is distinctly qualified to lead UCI through the next phase of its growth, given his impressive track record of leadership, vision, deep industry experience and relationships,” Saban continued. “This is a unique moment for UCI, and we believe that we have the right strategy and team in place to execute on the opportunities in front of us. On behalf of the entire Board, we look forward to working with Vince to achieve great success for UCI.”