E.W. Scripps Co. Tuesday announced Timothy Stautberg will assume the role of chief financial officer in July when the media giant splits into two separate publicly traded entities.
For the past 10 years, Stautberg has served as E.W. Scripps Co.’s primary liaison with institutional investors and financial analysts as vice president of communications and investor relations.
In his new role as CFO and senior vice president, he will take a lead role in strategic planning for the media company which, after the separation, will focus on local print, television and Internet businesses.
“[Stautberg] has a battle-tested understanding of what it takes to change and evolve businesses while, at the same time, continue to succeed economically,” Rich Boehne, the separated unit’s future CEO, said in a statement. “His solid background as a manager of media companies, coupled with his experience in the worlds of finance and investor relations make him the very best choice for our lead financial role.”
Stautberg succeeds Joseph NeCastro, who will now become executive vice president and CFO of Scripps Networks Interactive.
In October 2007, the company announced its board of directors had unanimously authorized management to pursue a separation of the company into two separate units; Scripps Networks Interactive, which includes cable networks HGTV, Food Network, Great American Country, Fine Living and DIY and E.W. Scripps Co. which includes its daily and community newspapers in 17 markets and 10 broadcast television stations.
