NEW YORK, Oct. 19, 2018 /PRNewswire/ -- Adam Townsend
has been named to the position of Executive Vice President and
Chief Financial Officer, Showtime Networks Inc. (SNI), effective
immediately, it was announced today by David Nevins, Chairman and Chief Executive
Officer, Showtime Networks Inc. Townsend will be replacing
Christina Spade, who now serves as
Executive Vice President and Chief Financial Officer, CBS
Corporation.
In his new role, Townsend will be responsible for all financial
matters relating to Showtime Networks' businesses, including
oversight of finance, strategy and information systems for the
network's divisions, which encompasses budgeting, planning,
forecasting and accounting of all the business segments within SNI.
Townsend will also serve as one of SNI's primary liaisons to the
CBS Corporation.
"As the media landscape continues to evolve, we are very
fortunate to have a strategic and results-driven executive like
Adam join our senior management team," said Nevins. "With his
extensive financial experience and deep knowledge and understanding
of our industry – not to mention his impressive leadership and
collaborative nature that I have come to know over the years – I am
confident he will excel as our CFO and be an incredible asset to
the future of our company."
Townsend joined CBS in July 2008
as Executive Vice President, Investor Relations. In this position,
he has been responsible for overseeing the Company's daily outreach
to the investment community and analyzing the Company's competitive
positioning. Townsend also created and led the Company's investor
communication strategy for the IPO of its Outdoor business and the
recent split-off of CBS Radio through a transaction with Entercom.
In January 2016, he was promoted to
Executive Vice President, Corporate Finance and Investor Relations,
CBS Corporation, which expanded his responsibilities to include
oversight of the Company's Treasury functions. He also served as a
member of the Investment Committee for CBS Defined Contribution
Plans.
Townsend has received professional recognition for excellence in
investor relations from various industry publications. He has been
voted #1 Media Investor Relations Officer by sellside analysts in
Institutional Investors Magazine's Annual All-American Executive
Team survey for seven consecutive years (2012-2018), and received
the Overall Best Media IR Professional ranking in 2017 and 2018.
Prior to CBS, he also received IR Magazine's 2004 award for Most
Improved IR Program across all industries.
Before joining CBS, Townsend served as Managing Director of
Investor Relations and Corporate Strategy for the E*TRADE Financial
Corporation, which included working with its CEO on identifying
global expansion opportunities, providing quarterly presentations
to its board of directors on the company's competitive positioning,
public/investor perception, stock valuation and analyst research
coverage. He also served as E*TRADE's primary investor contact
through more than $5 billion in
capital markets transactions over four years.
Townsend was a Vice President in Equity Research at Hambrecht
& Quist and JP Morgan from 1999-2002 in the firm's Financial
Institutions Group, where he was responsible for primary research
coverage of publicly traded companies in the online trading and
investing technology sector. Prior to JP Morgan, Townsend held
various positions at Franklin Templeton Investments in the areas of
equity research, marketing research and broker service
operations.
Townsend earned his Bachelor of Science degree from the
University of California, Los Angeles.
He has been a member of the Investor Relations Association (IRA)
where he served on the Executive Board from 2009-2013 and as
Treasurer from 2010-2013. He has also been a panel member and
keynote speaker at various National Investor Relations Institute
(NIRI) programs.
He currently serves on the National Board of Directors for The
Posse Foundation, a non-profit education and youth leadership
organization promoting diversity and college access.
Townsend and his wife, Elizabeth, live in Santa Monica, with their daughter and son.
About CBS Corporation:
CBS Corporation (NYSE: CBS.A
and CBS) is a mass media company that creates and distributes
industry-leading content across a variety of platforms to audiences
around the world. The Company has businesses with origins that date
back to the dawn of the broadcasting age as well as new ventures
that operate on the leading edge of media. CBS owns the
most-watched television network in the U.S. and one of the world's
largest libraries of entertainment content, making its brand — "the
Eye" — one of the most-recognized in business. The Company's
operations span virtually every field of media and entertainment,
including cable, publishing, local TV, film, and interactive and
socially responsible media. CBS' businesses include CBS Television
Network, The CW (a joint venture between CBS Corporation and Warner
Bros. Entertainment), Network Ten Australia, CBS Television
Studios, CBS Studios International, CBS Television Distribution,
CBS Consumer Products, CBS Home Entertainment, CBS Interactive, CBS
Films, Showtime Networks, CBS Sports Network, Pop (a joint venture
between CBS Corporation and Lionsgate), Smithsonian Networks, Simon
& Schuster, CBS Television Stations, CBS EcoMedia, and CBS
Experiences. For more information, go to
www.cbscorporation.com.
About Showtime Networks:
Showtime Networks Inc.
(SNI), a wholly owned subsidiary of CBS Corporation, owns and
operates the premium television networks SHOWTIME®, THE
MOVIE CHANNEL™ and FLIX®, and also offers
SHOWTIME ON DEMAND®, THE MOVIE CHANNEL™ ON
DEMAND and FLIX ON DEMAND®, and the network's
authentication service SHOWTIME ANYTIME®. Showtime
Digital Inc., a wholly owned subsidiary of SNI, operates the
stand-alone streaming service SHOWTIME®. SHOWTIME is
currently available to subscribers via cable, DBS and telco
providers, and as a stand-alone streaming service through Amazon,
Apple®, Google, LG Smart TVs, Oculus Go,
Roku®, Samsung and Xbox One. Consumers can also
subscribe to SHOWTIME via Amazon's Prime Video Channels, DirecTV
Now, FuboTV, Hulu, Sling TV, Sony PlayStation™ Vue, and
YouTube TV. Viewers can also watch on computers at Showtime.com.
SNI also manages Smithsonian Networks™, a joint venture
between SNI and the Smithsonian Institution, which offers
Smithsonian Channel™, and offers Smithsonian
Earth™ through SN Digital LLC. SNI markets and
distributes sports and entertainment events for exhibition to
subscribers on a pay-per-view basis through SHOWTIME PPV. For more
information, go to www.SHO.com.
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SOURCE CBS Corporation