Sinclair’s Smith to Step Down as CEO, Assumes New Role

Related: Sinclair Up 26% in 3Q Despite Less Political

Sinclair Broadcast Group will make executive changes effective Jan. 1, including David Smith, the company’s chairman, president and CEO, becoming executive chairman.

In his new role, Smith will oversee the development and implementation of ATSC 3.0, the next-gen broadcast standard, as well as expanding the group’s news franchise, the company said. He also will be directly involved with broadcast-related public policy.

Christopher Ripley, currently CFO, will assume the role of president and CEO, in which he will oversee and manage the company’s business and operations.

Lucy Rutishauser will be promoted from senior VP of corporate finance & treasurer to senior VP, CFO and treasurer. She will have direct oversight of the financial dealings, investor relations and corporate communications.

“We are excited about the announced executive changes and believe they will better position us to grow in a changing media landscape where networks and distributors are getting bigger and consumers have more viewing choices on more devices,” Smith said.

“The organizational changes provide greater focus and oversight in those critical areas that strengthen our longer term strategies to be multi-platformed, vertically integrated and compete in the broader media ecosystem, ultimately driving value,” he said.