Wade Davis’ ForgeLight LLC and Grupo Televisa announced that four new independent directors have been appointed to a reconstituted board for Univision Holdings.
ForgeLight and Searchlight Capital in February agreed to buy a majority stake in Univision. Televisa will remain a major stakeholder after the transaction closes.
The new directors are Marcelo Claure, CEO of Softbank Group International; Oscar Munoz, executive chairman of United Airlines Holdings, Maria Cristina "MC" Gonzalez Noguera, senior VP of global public affairs for The Estee Lauder Cos., and Gisel Ruiz, former chief operating officer of Walmart’s Sam’s Club.
“These four directors are among the most prominent and accomplished business leaders in America today and we are honored they have agreed to join us in driving the next phase of growth for Univision,” said Wade Davis, CEO and founder of ForgeLight and who will become Univision’s CEO when the acquisition closes.
“We worked extremely hard to recruit the most value-added and complementary directors to significantly expand the Board’s governance so it is representative of the community Univision serves," Davis said. "All four of these new directors bring a passion for our mission. They understand Univision’s extraordinary potential as a platform to drive innovation, build market-defining content and deepen its relationship with one of the most important audiences in the United States.”
The new Board members will join representatives of ForgeLight, Searchlight and Televisa as directors. Those members will be named at a later date, the company said.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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