MUMBAI: Wade Davis has been appointed as chief financial officer (CFO) of US media conglomerate Viacom. The announcement was made by Viacom COO Thomas E. Dooley.
Davis previously served as Viacom executive VP, Strategy and Corporate Development. He succeeds Jimmy Barge, who, after a transition period with Davis, will leave the company to pursue other opportunities.
Davis will be responsible for the company‘s accounting and financial reporting, planning, tax and treasury functions. He will also continue to oversee the strategy and corporate development functions across Viacom.
Dooley said, "This is a well-deserved promotion for Wade, who has made so many contributions to the growth and success of Viacom. We are fortunate to have such a multi-talented executive in our ranks with the leadership skills and the depth of experience to move seamlessly into the CFO role.
He is respected throughout the company for his knowledge of our industry and his financial expertise. Wade has worked closely with me and with Viacom‘s entire senior team on important strategic initiatives, while also leading a disciplined corporate development program that has enabled us to tap new growth areas, both domestically and around the world.
"We want to thank Jimmy for his professionalism and many years of dedicated service to Viacom, particularly his outstanding work to strengthen our financial position. His focus and expertise were greatly appreciated by me, as well as by our financial team and everyone at the company who worked closely with him. We wish Jimmy all the best as he moves on to new opportunities beyond Viacom."
Davis said, "I feel extremely fortunate to take on this new role at Viacom. This is an exciting and challenging time for our company and our industry and I am looking forward to continuing to work with Tom and Philippe Dauman, our President and CEO, to keep Viacom financially strong and out in front. Best of all, I step in on day one as CFO with a world-class financial team by my side. Having worked with them closely for many years, I know first hand the depth of their experience and the breadth of their expertise. Working together, I know that we will continue to help Viacom achieve its financial and strategic goals."