Turner Broadcasting System said Thursday that it has named Time Warner senior vice president and controller Pascal Deroches chief financial officer, effective Jan. 1. He succeeds John Kampfe, who currently holds the post. Kampfe has announced that he will leave Turner at the end of the year. He will pursue outside interests.
In his new role, Deroches will assume oversight of all financial operations of the company related to its worldwide news, entertainment, kids, sports, advertising and distribution sales and corporate units. Desroches will work closely with Turner parent company Time Warner on various financial matters, including forecasting and reporting.
"Pascal is a world-class finance executive," said Turner Broadcasting chairman and CEO John Martin in a statement. "During his tenure as Time Warner's controller, he has been involved in virtually all matters important to Time Warner and has developed a deep understanding of Turner's business. He will be a key member of our senior executive team as we execute a strategy to extend our competitive leadership, deliver strong growth and exercise prudent capital allocation. I have the utmost respect for Pascal's professionalism and integrity, and appreciate the continuity that he brings to this critical Turner executive role."
Martin has been shaking up the ranks since becoming CEO in January. In June he introduced Turner 2020, a plan to shoft costs toward aeras with the most growth opportunities. In August, the company offered buyouts to about 500 company veterans,
Desroches was most recently senior vice president and controller of Time Warner Inc., serving as the company's principal accounting officer and responsible for internal and external reporting, planning and analysis, as well as providing support for mergers & acquisitions activity and other significant transactions. He joined Time Warner in 2001 from KPMG LLP, where he was a partner in the Department of Professional Practice-Assurance & Advisory Services in New York. Previously, Desroches was a Professional Accounting Fellow with the Office of the Chief Accountant at the United States Securities and Exchange Commission (SEC).
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