- Push-out Score suggests push-out forces
- After almost 21 years in the position
- Thanks for Azcárraga
- Bernardo Gomez and Alfonso de Angoitia taking over
- Azcárraga will remain as Executive Chairman at Televisa
- Azcárraga spoke at length and said 98 words
(exechange) — New York, October 26, 2017 — Emilio Azcárraga, chief executive of Televisa, leaves the position. As announced by Grupo Televisa, S.A.B. in a news release and in a regulatory filing published on Thursday, October 26, 2017, Emilio Azcárraga leaves the post as Chief Executive Officer at the media company after almost 21 years in the position, effective January 01, 2018.
It is the end of an era.
Azcárraga’s duties are taken over by Bernardo Gomez and Alfonso de Angoitia, currently Executive Vice Presidents at Grupo Televisa, S.A.B.
Azcárraga’s move is part of a management shake-up also involving the positions of Vice President of Strategic Planning; Vice President of Finance; and Vice President of Administration.
A reason for the change was not explicitly given. Azcárraga said: “Our industry is undergoing a massive transformation, presenting us with big challenges, but even bigger opportunities.”
Azcárraga will remain as Executive Chairman at Televisa
“Emilio Azcárraga Jean will continue to lead the long term strategy of the firm as Executive Chairman of the Board. In addition, Mr. Azcárraga will continue to have direct responsibility for Televisa’s soccer business, including the America soccer team, as well as for Fundación Televisa. These changes will take effect on January 1, 2018,” Televisa said.
Share price decline
The change follows a decline in the share price of Grupo Televisa, S.A.B. since June 2015.
In the position of CEO since 1997
Emilio Fernando Azcárraga Jean has been the Chairman of the Board, Chief Executive Officer and President of Grupo Televisa, S.A.B. at Innova, S. de R.L. de C.V. since March 1997.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Emilio Azcárraga’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 44.2017 ($).