Discovery Communications Inc. founder John Hendricks will relinquish his position as CEO to current president and chief operating officer Judith McHale.
Hendricks recommended at the DCI shareholders’ annual meeting Monday that the company separate the chairman and CEO positions effective June 17 -- the beginning of the company’s 20th-anniversary year, DCI executives said.
Hendricks will retain the chairman’s position.
"I strongly believe that I will be best able to focus my energies on further corporate expansion by relinquishing my daily chief executive officer duties," Hendricks said in a prepared statement.
"I think the beginning of Discovery Channel’s 20th-anniversary year June 17 is just the right time for me to begin enjoying the creative freedom that the position of chairman will offer," he added.