Unvision announced that CEO Joe Uva will be leaving the company once his employment agreement expires on April 2.
A statement from the network says that “he has chosen not to renew his employment agreement in order to be able to seek other opportunities.”
In the interim, Univision board member and executive chairman Haim Saban will assume additional responsibilities until a new CEO is named.
A tipster tells TVNewser that the new CEO is likely to be former NBC Television Group president and AOL CEO Randy Falco, who joined Univision in January as executive VP and COO.
Univision is one of the country’s largest broadcasters, regardless of language. It is also home to a number of TV news programs seen by millions of Hispanics every week, including its Sunday public affairs show “Al Punto con Jorge Ramos” and “Noticiero Univision.”
New York, NY, March 14, 2011 — Univision Communications Inc., the premier media company serving Hispanic America, announced today that Joe Uva, President and Chief Executive Officer, has informed the Board of Directors that he has chosen not to renew his employment agreement in order to be able to seek other opportunities.
Haim Saban, Executive Chairman of Univision said, “On behalf of the Univision Board of Directors, we would like to commend Joe for his tremendous contributions over the past four years. Univision is a better company today due to Joe’s efforts in building a strong leadership team and positioning Univision for long-term success. Univision’s business is strong, and the entire management team remains focused on delivering value to its customers and stakeholders. We wish Joe the best in his future endeavors.”
Mr. Uva said, “My four years as President and CEO of Univision have been extremely exciting and rewarding. I believe our team can be proud of the accomplishments that we achieved during my tenure. Although I will miss working with the many talented professionals at Univision, the team is strong and I have decided the time is right for me to capitalize on other opportunities. I know that Univision will continue its great success as the premier Spanish-language media company in the U.S.”
Univision also announced that it will commence a search process for a new CEO immediately. To ensure a smooth transition, Mr. Saban will assume additional responsibilities in his role as Executive Chairman until a new CEO is appointed.
Mr. Uva’s departure will become effective upon the end of the current term of his employment contract, April 2, 2011.