New CFO at Time Warner

NEW YORK: Howard Averill has been tapped as the new chief financial officer at Time Warner, succeeding John Martin, who is taking on the role of CEO at Turner Broadcasting System.

Averill will be overseeing the company’s financial functions and strategies, including all accounting, budgeting, reporting and tax activities. He will also have responsibilities for Time Inc.’s information technology, production and fulfillment operations. He takes up the new post as of January 1, 2014.

Averill also currently oversees Time Inc.’s consumer marketing business. In 2011, he was part of a three-member executive team that led Time Inc. Prior to joining Time Inc. in 2007, Averill was executive VP and CFO at NBCUniversal Television. He spent ten years at the company.

Jeff Bewkes, Time Warner’s chairman and CEO, said: “Howard has been an exemplary leader and a stabilizing force at Time Inc. through a period of tremendous change. His financial acumen, sound judgment and broad understanding of our businesses will be an asset to Time Warner’s management team and our company. Howard brings a great blend of integrity, effectiveness and an understated collegial style to his new role.”

Averill commented, “It’s been a great privilege to work alongside many talented colleagues at Time Inc., who have accomplished so much during an eventful time in media. I am grateful to Jeff Bewkes and John Martin for giving me the opportunity to grow personally and professionally in that role, and I’m excited and look forward to joining Time Warner’s management team.”