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CBS Radio Names Two New Chief Money Men

Ahead of its spinoff IPO, the company has appointed a CFO and chief revenue officer

CBS Radio has appointed Matthew Siegel as its chief financial officer, effective Nov. 14. Bob Philips has also taken on the role of chief revenue officer. Siegel and Philips will both be based at CBS Radio’s New York headquarters and report to President Andre Fernandez.

“As we prepare to separate from our parent company — one of the most exciting and impactful events in CBS Radio’s history — it’s more important than ever that we remain competitive and consistently deliver value to our key stakeholders,” Fernandez said in the release.

Siegel will direct and oversee all financial functions of the business, including treasury, investor relations, financial planning, corporate accounting and risk management.

He most recently he served as the co-CFO and treasurer of Time Warner Cable during the merger period with Charter Communications. Prior to that, he was the senior vice president and treasurer of TWC just prior to TWC’s separation from Time Warner. During the regulatory review of the failed merger between TWC and Comcast, he was designated CFO of the intended cable company spin-off. Prior to TWC, Siegel worked at Time Warner Inc. as vice president and assistant treasurer. He has also held finance leadership positions at Insight Communications and at Seagram.

According to a release, in this newly created leadership position, Bob Philips will be responsible for leading all aspects of revenue generation for the company at the corporate, regional, and local levels. He will develop sales solutions enabling clients to reach and engage consumers and market their brands. He will also develop strategies to attract new revenue streams by utilizing CBS Radio’s multiplatform portfolio.

Philips had served as CBS Radio’s senior vice president of sales since late 2015, and he also served as the Baltimore market manager since 2000. Previously, he held leadership positions at Infinity Broadcasting and American Radio Systems.

He serves on the RAB Advisory Board and is an officer for the Maryland DC Delaware Broadcasters Association.

As a part of CBS Corp., CBS Radio owns 117 radio stations in 26 markets as well as digital assets.