Judy McGrath Steps Down at Viacom

NEW YORK: After three decades with the company, Judy McGrath is stepping down as chairman and CEO of MTV Networks, a position the company says will not be filled following her departure.

McGrath joined MTV in 1981 as a copywriter and rose through the ranks, taking on oversight for the entire MTV Networks portfolio in 2004. Following her departure, the heads of MTV Networks operating units—the Entertainment Group’s Doug Herzog, Music and Logo’s Van Toffler and Nickelodeon & MTVN Kids & Family Group’s Cyma Zarghami—will report directly to Philippe Dauman, Viacom’s president and CEO.

Announcing her exit, McGrath said, "The people of MTV Networks have always been singularly important to me. Together we have built world-class brands that connect with fans from kid to adulthood, from SpongeBob to Hot In Cleveland, from Unplugged to The Daily Show. We have attracted and nurtured the best talent in the world, and I know that will always be a hallmark of the company. Creatively, financially, all the brands and businesses are in wonderful shape today. I leave with pride, joy and gratitude for the ride of a lifetime. I especially thank my friends and colleagues on the senior team, who will continue to lead a kick-ass organization. They have my respect and affection, always."

Dauman added, "Judy has long been the creative heart and inspiring soul of MTV Networks and has deservedly been associated with so much of the great entertainment, cultural relevance, social significance and business success that have defined our media networks over the years. Her positive and passionate spirit has helped create an organization that is recognized for truly listening to its audiences, not only about their entertainment choices, but also about the social issues and the causes that matter to them most. We will all miss Judy enormously, but we respect her decision and understand her desire to leave at the very top of the game with a legacy of success that stretches from the earliest days of cable television to current season highlights. The networks under her direction are rapidly expanding to new platforms and reaching new creative and ratings milestones, all under the able guidance of experienced and talented management teams. With a deep executive bench and our popular and growing stable of media network brands, we are confident that Viacom won’t miss a beat and will flourish."