Adam Townsend will step down as Showtime Networks’ CFO at the end of the month with Michael Crotty set to replace him.
Townsend has been with Showtime and CBS for the last 12 years. Crotty returns to Showtime after serving as CFO of The Players Tribune since 2016. Crotty previously served as senior vice president, affiliate revenue and business operations for Showtime Networks Inc.
“Adam has been invaluable to Showtime Networks and CBS, not only with managing our finances but also our overall leadership,” said Showtime CEO David Nevins. “He’s been an enormous help in driving our business through a year of many transitions, and we are sorry to lose him. We wish him all the best on what we expect will be an exciting next chapter. We count ourselves incredibly fortunate to be able to lure Michael back to Showtime. He is extremely well-liked and respected by everyone he worked with during his previous stint here, and the years he spent as CFO of The Players’ Tribune have given him indispensable entrepreneurial and leadership experience that he brings back to us.”
As chief financial officer, Crotty will be responsible for all financial matters relating to Showtime Networks’ and BET Networks’ businesses, including oversight of finance, strategy and information systems for the network’s divisions, which encompasses budgeting, planning, forecasting and accounting of all the business segments within SNI and BET.
“It has been an honor and a privilege to have held the various positions I have in this Corporation over the past 12 years,” said Townsend. “From the first retrans deals to the proliferation of streaming, I have been fortunate to have had a seat on the front lines of the media industry’s dramatic transformation. And at Showtime, the finance integration within ViacomCBS is well underway, and I am confident the Company is now on a path toward its own transformation for the future.”