Cox Enterprises, parent company of Cox Communications, announced that Jimmy Hayes has been promoted to CEO effective Jan. 1, 2009, taking over for James Kennedy, who will remain chairman.
Hayes spent 16 years at Cox Communications, most recently as chief financial officer of the cable division, before he assumed the role of president and COO at the parent company at the end of 2005.
"I have been the CEO of Cox Enterprises for 20 years and I feel that is long enough," Kennedy said in a statement. "Jimmy Hayes has earned the opportunity to be chief executive officer of this company and in these difficult times, Jimmy's skills and experience are perfectly suited for the job. As chairman of the board, I am not going anywhere. I will still be around to provide Jimmy all the support that I can."
Hayes will oversee Cox Communications, Manheim Auctions, Cox Media Group and Cox Auto Trader and several corporate headquarters groups, including financial operations, human resources, administration and business development. He also serves on the board of directors of Cox Enterprises and of Cox Radio.
Privately held Cox Enterprises generates more than $15 billion in annual revenue and has more than 78,000 employees. In addition to Cox Communications, the company owns and operates newspapers, television and broadcast radio stations.