Bewkes named CEO of Time Warner

Parsons remains chairman of the board

By Susanne Ault -- Video Business, 11/5/2007

NOV. 5 | Jeff Bewkes has been named CEO at Time Warner, succeeding Dick Parsons, who will stay on as the company’s chairman of the board.

The management change, effective Jan. 1, has been in the works for some time, said Time Warner executives, with all parties approving the moves.

Bewkes is a Time Warner veteran, becoming its entertainment and networks group chair in 2002, and later transitioning into the role of president and chief operating officer in 2006. Previously, Bewkes worked as CEO of HBO, part of the Time Warner corporate family, which also houses DVD unit Warner Home Video.

“Jeff is the right person to be the next CEO of Time Warner, and I couldn’t be more delighted that he will lead this company into the future,” Parsons said. “Jeff is a well-respected business executive both inside and outside the company. His results-oriented management style and deep industry knowledge will be invaluable as he drives growth at Time Warner.”

Robert C. Clark, chairman of the Nominating and Governance Committee for Time Warner, added, “The Board is grateful for Dick’s exceptional leadership in turning this company around and putting it on solid foundation for the future. We look forward to working with Jeff Bewkes as he assumes the leadership of Time Warner going forward.”

Clark continued, “Today’s decision is the culmination of a thoughtful and disciplined process that began in early 2006, when Dick Parsons initially approached the Board to discuss the timetable for the CEO succession.”