Time Warner CEO Jeff Bewkes says that John K. Martin will be the next CEO of Turner Broadcasting System beginning 1/1/14, succeeding Phil Kent, who will serve as Chairman for a transition period in 2014.
Said Bewkes: “Phil Kent’s exceptional leadership at Turner has driven much of Time Warner’s recent success. For the past decade, he has expertly guided the Turner networks through a period of rapid change, all the while building on each network’s leading position with viewers and advertisers and forging stronger relationships with distributors. At Phil’s initiation, he and I agreed that now is the right time to announce the next generation of leadership, and I am pleased that he will serve as Chairman.”
Commenting on Martin, Bewkes said: “John is one of the most capable and strategically-minded executives I know. As CFO, he led the design and implementation of our financial strategy that has helped Time Warner deliver superior shareholder returns. But he is also a broad and thoughtful business thinker whose inclusive management style and focus on driving the business forward will fit well with the Turner tradition. I have great confidence he will build on the success Phil has achieved to take Turner to even greater heights.”
As Chief Financial and Administrative Officer at Time Warner, Martin currently oversees all of Time Warner’s finance, accounting, mergers and acquisitions, internal audit, investor relations, treasury and tax areas as well as corporate human resources, employee development and growth, compensation and benefits, worldwide recruitment, and security and transportation. Time Warner plans to name John Martin’s successor in the coming weeks.