The National Association of Broadcasters has named Téa Gennaro as its new CFO.
President CEO Gordon Smith said Gennaro will come on board as executive vice president and chief financial officer of the organization later this month.
She joins at a time when the NAB, and associations in general, have been challenged financially by the business impact of the pandemic and the dramatic reduction in major in-person events.
According to a recent communication to its members, NAB this year has instituted cuts to executive compensation, “significant” budget reductions and a hiring freeze.
Its board recently approved a one-time assessment on members “intended to make up for lost revenue due to the cancellation of NAB Show, which accounted for 70% of NAB’s operating budget, as well as the expected decline in future convention revenues as the result of COVID-19.”
Gennaro is former chief financial officer of the Associated Builders and Contractors (ABC National) in Washington. She has also worked as a controller in the Outsourced Accounting Client Service branch of Tate & Tryon, a CPA firm.
“As EVP of Finance and CFO, Gennaro will lead NAB’s financial operations, including internal and external reporting, audit, tax, financial systems and the budget process,” the association stated.
She succeeds Trish Johnson, whom NAB said has transitioned into a consulting role.