Insight Communications Co. Inc. has named former Morgan Stanley Dean Witter & Co. investment banker John Abbot as its new senior vice president and chief financial officer.
Abbot had been managing director of the global-media and communications group of the investment-banking division at Morgan Stanley.
In his new role, effective Jan. 18, Abbot will have responsibility for financial reporting, interfacing with the financial community and running the capital budget and long-term planning processes. He will also oversee the negotiation and execution of mergers, acquisitions, joint ventures, cable-property purchases and swaps.
Abbot will be based in Insight’s New York office and report to president and CEO Michael Willner.
"This year promises to be a pivotal one for our company, and John’s background and expertise in corporate finance and investment banking will be a particularly valuable asset as we continue to maintain our focus on operations, reducing costs and achieving positive free cash flow," Willner said in a prepared statement.
"In addition, we have worked with John and his team at Morgan Stanley for many years now and have a particular appreciation for his extraordinary abilities," Willner added.
Dinni Jain, Insight’s executive VP and chief operating officer, has served as interim CFO since Oct. 9, and he will relinquish that position.
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