Cable TV
DirecTV president Mitch Stern calls it quits
MUMBAI: US pay TV platform DirecTV has announced that its president and CEO Mitch Stern has left the company.
DirecTV Group president and CEO Chase Carey, will now oversee day-to-day operations of DirecTV. The company does not plan to find a replacement for Stern. Stern had joined the company in December 2003.
While DirecTV was mum on the reason for Stern’s departure an industry source indicates that Stern, who was based in New York, constantly travelled to the West Coast on business. He started to feel that this was having a negative effect on his family life.
In making the anouncement Carey said, “While we considered 2004 a transition year, DirecTV achieved a tremendous amount of growth under Mitch’s leadership. Most notably, more new subscribers chose DirecTV last year than any other pay television service in the country. I want to take this opportunity to thank Mitch for all his efforts and contributions and wish him well. DirecTV is well positioned to go forward and build on its leadership position in the pay television industry.”
Stern said, “Serving as DirecTV’s president was very rewarding and I am very proud of all that we accomplished in the last year. DirecTV is a great success story and a fabulous business with a very promising future. While it was exciting to be part of such a dynamic organisation, the time was right for me to move on.”
