Starting a domino effect of changes at the top of the corporate ladder, Cox Enterprises President and CEO Jimmy W. Hayes will retire in April 2014. The company says current Executive Vice President and Chief Financial Officer John M. Dyer will take over as chief operating officer beginning May 1, and upon Hayes’ retirement next year, will be named president and CEO.
Cox owns several dozen radio and television stations in major markets across the country. Cox recently sold some smaller market radio and TV stations.
Hayes has served as president and CEO since 2008, leading Cox Communications, Manheim, Cox Media Group and AutoTrader Group, in addition to heading financial operations, human resources and administration. After stepping down, the 33-year company veteran will remain on the company’s board of directors
Douglas E. Franklin will replace Dyer as Cox Enterprises executive vice president and chief financial officer. Franklin has served as president of Cox Media Group since 2011. In that role, he led the company’s integrated broadcasting, publishing and digital media initiatives. Beginning in May, Franklin will be responsible for the company’s treasury, financial reporting and control, as well as tax and audit functions, as well as public policy, supply chain services, information technology, risk management and legal.
Bill Hoffman, who currently serves as an executive vice president at Cox Media Group, will take over as president of Cox Media Group, taking the reins for the company’s radio and television operations and corporate revenue efforts, including assuming responsibility for the company’s 88-station radio group.
Hoffman is a former vice president and general manager of WSB(TV) in Atlanta. He also serves as chairman of the ABC board of governors.
Cox Enterprises’ major subsidiaries include Cox Communications, Inc. (cable television distribution, telephone, high-speed Internet access, commercial telecom and advertising solutions); Manheim, Inc.; AutoTrader; and Cox Media Group, Inc. (television and radio stations, digital media, newspapers, advertising sales rep firms, Valpak and Cox Digital Solutions).
Cox Sells Radio Stations