Time Warner Inc. named Time Inc. finance chief Howard Averill Chief Financial Officer of the media giant on Monday, replacing John Martin who will become CEO of Turner Broadcasting in January.
Averill will assume his new position in January. He has been with Time Inc, since 2007, and currently oversees the publishing unit’s financial functions and strategies, including all accounting, budgeting, reporting and tax activities. In addition, he has responsibility for Time Inc.’s information technology, production and fulfillment operations and oversees Time Inc.’s consumer marketing business. For 10 months in 2011, he was part of a three-person team that led Time Inc.
“Howard has been an exemplary leader and a stabilizing force at Time Inc. through a period of tremendous change,” said Time Warner Inc. chairman and CEO Jeff Bewkes in a statement. “His financial acumen, sound judgment and broad understanding of our businesses will be an asset to Time Warner’s management team and our company. Howard brings a great blend of integrity, effectiveness and an understated collegial style to his new role.”
Averill replaces John Martin, who was named CEO of Turner Broadcasting Systems last week.
“It’s been a great privilege to work alongside many talented colleagues at Time Inc., who have accomplished so much during an eventful time in media,” Averill said in a statement. “I am grateful to Jeff Bewkes and John Martin for giving me the opportunity to grow personally and professionally in that role, and I’m excited and look forward to joining Time Warner’s management team.”
Prior to joining Time Inc., Averill served for 10 years at NBC Universal, most recently as executive vice president and CFO. Previously, he was an executive at ITT/Sheraton Corp. and also held positions with Pepsi-Cola Co. and Arthur Andersen & Co., where he earned his CPA.
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