Outdoor Channel Names Hornish CEO
Werner to be Co-Chairman
Mike Farrell -- Multichannel News, 1/26/2012 10:18:06 AM
Outdoor Channel named long-time executive Thomas Hornish president and CEO, effective Feb. 1, replacing Roger Werner who will become co-chairman.
Hornish, 52, has served as the company's general counsel since December 2004, executive vice president of corporate development since February 2006 and chief operating officer since March 2007. Prior to joining Outdoor Channel, he served as "of counsel" with Paul, Hastings, Janofsky & Walker LLP, an international law firm. Prior to that, he was an associate attorney with Brobeck Phleger & Harrison LLP since 1996.
According to filings with the Securtities and Exchange Commission, Hornish will receive $450,000 in annual salary in his new post, and will be eligible for an annual performance bonus of up to 70% of his base salary. Hornish will also receive an incremental award of 150,000 shares of restricted stock on Feb. 1.
"I am truly honored to take the lead of Outdoor Channel in 2012 and beyond," Hornish said in a statement. "I want to personally thank Roger for his leadership and mentorship over the last five years, and I'm looking forward to being able to draw on his vast experience and sage advice as a continuing board member. Outdoor Channel currently possesses an established multi-platform category leadership position supported by the most compelling outdoor programming hosted by the best talent in the industry. Moving forward, I am focused on working with our management, employees and partners to execute our growth opportunities."
Werner, 61, has served as president of Outdoor Chanel since 2006 and as CEO since 2007. During his tenure, the channel increased its number of subscribers by 25%.
As non-executive co-chairman. Werner will be entitled to receive a monthly retainer of about $10,000 per month and will receive another $25,000 per month for providing transition services to the new CEO and any other duties determined by the board.
"Roger has been a tremendous asset since joining the company in 2006. During his tenure, Outdoor Channel has grown its number of subscribers by over 25%, and we sincerely thank him for his ongoing leadership, dedication and other contributions," said Outdoor chairman Perry Massie in a statement. "We also appreciate that he will serve as Co-Chairman and be a valued advisor to the company as we continue executing our strategic growth initiatives. Tom Hornish has served Outdoor Channel with distinction during his seven year tenure, and the entire board of directors is pleased to appoint him Chief Executive Officer. He is an experienced industry veteran with a tremendous understanding of and passion for Outdoor Channel, and we are confident in his ability to lead the company through its next stages of growth."
The Company expects to make an announcement shortly regarding its plans to fill the Chief Operating Officer and General Counsel positions previously held by Hornish.
"I am proud of Outdoor Channel's accomplishments during my tenure as CEO which include greatly expanding the network's distribution, strengthening our core content offerings, and greatly improving the network's financial performance," Werner said in a statement. "This is a natural time for this transition given the overall strength of the senior management team and the company's healthy financial condition. I have worked alongside Tom Hornish for over five years and fully believe in his capabilities to assume his new role and lead Outdoor Channel's strategic direction moving forward. Outdoor Channel is a unique media platform with great upside, and I am excited to remain a part of the company's future."
No related content found.
Featured Company
-
Bigband Networks
BigBand Networks, Inc. NASDAQ: BBND provides broadband service providers with innovative network solutions designed to make it easier to move, manage and monetize video. These solutions are based on BigBand's video-networking platforms that are built to enable efficient and relia..more
VIEW ALL GALLERIES
