Kent will stay on as interim chairman
John K. Martin will become the new CEO of Turner Broadcasting System in 2014, succeeding Phil Kent.
Time Warner Inc. Chairman and CEO Jeff Bewkes announced the promotion of Martin (pictured), who is currently Time Warner's chief financial officer. He will become Turner Broadcasting System's CEO beginning Jan. 1, succeeding Phil Kent, who will serve as chairman for a transition period in 2014.
“Phil Kent’s exceptional leadership at Turner has driven much of Time Warner’s recent success," Bewkes said. "For the past decade, he has expertly guided the Turner networks through a period of rapid change, all the while building on each network’s leading position with viewers and advertisers and forging stronger relationships with distributors. At Phil’s initiation, he and I agreed that now is the right time to announce the next generation of leadership, and I am pleased that he will serve as chairman.”
He added: “John is one of the most capable and strategically-minded executives I know. As CFO, he led the design and implementation of our financial strategy that has helped Time Warner deliver superior shareholder returns. But he is also a broad and thoughtful business thinker whose inclusive management style and focus on driving the business forward will fit well with the Turner tradition."
Kent had led Turner since 2003.
As CFO and administrative officer at Time Warner Inc., Martin oversees all of Time Warner's financial affairs. From 2005 to 2008, he was executive vice president and CFO of Time Warner Cable Inc. Prior to joining Time Warner Cable, he spent nearly 12 years at Time Warner.
“I’m the beneficiary of Phil’s exemplary leadership, and it will be a privilege to work with Phil and all the dedicated and talented people at Turner," Martin said. "The company is home to some of the best brands in media, and is known for its innovative culture and focus on delivering programming that audiences love and count on. I look forward to working more closely with everyone at Turner to create more opportunities for consumers, advertisers and our distribution partners.”