Liberty Media said on Monday that the company’s Chief Financial Officer Mark Carleton will step down to retire.
“Mark’s relationship with Liberty and TCI goes back to 1987 and his efforts as chief financial officer and leading the corporate development team have provided great value to the company. I’m pleased that he will continue as a senior advisor,” Liberty CEO Greg Maffei said in a statement.
While Carleton plans to stay on as a senior advisor, his exit sparked a succession of management moves throughout the company, which owns interests in a broad range of media, communications and entertainment businesses.
Brian Wendling, who has been at Liberty since 1999 and served as Controller since 2011, has been appointed to the additional role of principal financial officer. Wendling also serves as CFO for Liberty TripAdvisor.
Liberty General Counsel and Chief Legal Officer Rich Baer will assume the added title of chief administrative officer, with an additional emphasis on recruiting and developing talent across Liberty and its portfolio companies. Baer has been at the company since 2013.
Courtnee Chun, who has run Liberty’s investor relations group since 2008, will add the title of chief portfolio officer. Chun has played a major role in monitoring and enhancing Liberty’s operating performance, the company said.
All of the new roles are effective as of July 1, and will report to Greg Maffei.
“Rich has been a key contributor across Liberty and this further role will allow him to expand the scope of his endeavors,” Maffei said. “Courtnee’s additional role recognizes her deeper and effective involvement with several of our companies. Brian has not only done a great job ensuring our complicated group of companies account appropriately, but, with his team, has expanded our expertise in enhancing their reporting. We congratulate them on their expanded roles and look forward to their continued contributions at Liberty Media.”