Shaw announces change at the top
Alongside its Q4 earnings report, the mediaco annouced today that Jim Shaw Jr. is stepping down as CEO, making way for Bradley Shaw to take the reins.
Jim Shaw Jr. is making way for brother Bradley Shaw to succeed him as CEO of Shaw Communications, effective Jan. 13, 2011.
JR Shaw will continue as executive chairman of the western Canadian cable giant, but will hand over day-to-day control of the cable giant just as his company is on the verge of acquiring Canwest Global Communications’ TV assets.
‘Over my 12 years as CEO, I have led a first class team that delivered an unprecedented period of growth and expansion for Shaw, culminating with the $2 billion acquisition of the Canwest/Global TV and specialty channel assets,’ Jim Shaw Jr. said in a statement.
‘It is now Brad’s time to lead Shaw Communications into the future,’ he added.
During recent CRTC hearings to consider the Shaw/Canwest Global takeover, Brad Shaw led the presentation to regulators, and in recent years has played a higher profile role in running the company.
The executive change came as Shaw Communications reported earnings of $121.5 million for its fourth quarter, just down from a profit of $124 million in 2009, on revenue up 8% to $939 million.
From Playback Daily