Viacom has promoted Wade Davis to chief financial officer, replacing Jimmy Barge.
Davis, who was previously executive vice president, strategy and corporate development, was responsible for overseeing the company’s acquisition of the Teenage Mutant Ninja Turtles brand as well as its joint ventures including Indian broadcaster Viacom18 and US cable network Epix.
He will now be responsible for Viacom’s accounting and financial reporting and will continue to oversee the strategy and corporate development functions across the company. He will report to Thomas Dooley, chief operating officer, 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.”
Barge is set to leave the company, after a transition period, to “pursue other opportunities”. “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,” added Dooley.