Discovery CFO to exit the company


Details

Michelle Clancy

| 29 February 2016




Discovery Communications’ CFO, Andrew Warren, has decided to leave the company.



To ensure a seamless transition of his responsibilities over the next several quarters, Warren will remain at Discovery through the end of 2016, after serving nearly five years with the company.

"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, Discovery. "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.”

Howard Fischer Associates has been engaged to lead the search for a replacement.

“[Warren] has been a valued partner to me and a dedicated leader for our company,” said Zaslav. “On behalf of the entire management team and our board of directors, I thank him for his numerous contributions to Discovery's success and I am pleased he will remain with the company through the end of 2016, ensuring a smooth transition."

In 2015, Discovery increased revenues by 2% to $6.4 billion yet saw operating income slip 4% to $2.4 billion.