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Home > Work > Management |
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Executive Changes
Hires & Fires: July 15 - 19, 2002 NEW YORK - The following executive changes were announced this week: AOL Time Warner (nyse: AOL - news - people ) said Chief Operating Officer Robert Pittman, the man who had been chosen to revive the company's struggling online unit, has resigned and two veteran Time Warner executives have been promoted to the company's top ranks. The world's largest media company said it has promoted HBO head Jeff Bewkes and Time Inc. head Don Logan, making them Chief Executive Richard Parson's top deputies. The changes give Time Warner executives much of the control of the company about a year and half after AOL's $106.2 billion deal to buy Time Warner was completed. More... AT&T (nyse: T - news - people ) said its president, David Dorman, will succeed C. Michael Armstrong as chairman and chief executive officer, following the telephone company's sale of its cable TV business to Comcast. Armstrong has been AT&T's CEO since October 1997 and will leave AT&T to become chairman of AT&T Comcast. More... Deutsche Telekom (nyse: DT - news - people ) Chief Executive Ron Sommer stepped down on Tuesday, after the government--the No. 1 shareholder--blamed him for the German public's apparent vote of "no confidence" in the Börse. The mathematician, 53, who has persuaded millions to buy into Deutsche Telekom since 1996, has been lambasted for a near 90% decline in share prices following a two-year acquisition spree; the buying fever left the group with 67 billion euros ($68 billion) of debt. More... French media and utilities group Vivendi Universal (nyse: V - news - people ), struggling with cash and debt problems following the ouster of chairman Jean-Marie Messier earlier this month, said it had appointed Jacques Espinasse as its chief financial officer. Espinasse, until now, chief operating officer at French satellite TV consortium TPS, replaces Guillaume Hannezo, who has come under fire in the wake of Messier's departure for helping oversee the dizzying and destabilising expansion of the company from utility to media giant. More... Bearing the name that is synonymous with perceptions of quality, strength and elegance, British engine maker Rolls-Royce said Finance Director Paul Heiden would leave the firm at the end of this year to head up engineering group FKI. Heiden will replace Bob Beeston, who will resign as chief executive of FKI on Jan. 2, 2003, the latter firm said in a separate statement. More... Telecoms equipment supplier Nortel Networks (nyse: NT - news - people ) said it appointed Douglas C. Beatty as chief financial officer. Beatty, who will replace Frank Dunn, has been the company's controller since 1999. In his new post, Beatty will oversee Nortel's treasury, control, investor relations, tax, financial operations and planning, general auditor and corporate development. More... Reliant Energy (nyse: REI - news - people ) announced that it hired a Goldman Sachs executive Mark Jacobs as chief financial officer of its Reliant Resources unit, whose bogus electricity trades forced the companies to erase billions of dollars in revenue. Jacobs was named CFO of both Reliant Energy and Reliant Resources, but the company said he will resign from Reliant Energy once the Reliant Resources spinoff has been completed. After the spinoff, Reliant Energy will become a holding company, called CenterPoint Energy, and will consist of regulated electric transmissions and distribution, natural gas distribution, and pipelines and gathering. More...
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End Of The Media Road For Middelhoff Faces In The News: Aug. 14, 2002 News Scan P.M.: Aug. 21, 2002 Related quotes
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