Viacom Promotes Wade Davis to Chief Financial Officer

Wade Davis replaces Jimmy Barge, who will leave Viacom

Wade Davis has been promoted to chief financial officer of Viacom, replacing Jimmy Barge.

Davis was previously executive vice president, strategy and corporate development at the media giant. Barge will leave Viacom after a transition period to "pursue other opportunities," the company said.

In his new post, Davis will oversee Viacom's accounting and financial reporting, while continuing to manage its strategy and corporate development.

"This is an exciting and challenging time for our company and our industry," Davis said in a statement. 

"Working together, I know that we will continue to help Viacom achieve its financial and strategic goals," he added.

Davis joined Viacom in December 2005 as senior vice president of mergers and acquisitions and assumed the additional duties of strategic planning and corporate development in 2009. At the company, Davis has managed joint ventures such as the cable channel Epix, which Viacom has partnered on with Lionsgate and MGM, and the acquisition of brands such as the Teenage Mutant Ninja Turtles.

Previously, Davis was an investment banker in the technology and media sectors for more than a decade at firms including Wasserstein Perella & Co and Lazard Freres & Co.  He co-founded AdvancePath Academics, which operates technology-based centers to assist high school dropouts.