DirecTV Head Honcho Quits Job

09 March 2005

Chase Carey has become the single boss of DirecTV following the resignation of president and ceo Mitch Stern.

There will be no successor to Stern, as 2004's restructuring of the largest US satellite broadcaster has rendered the need for two top executives at the company redundant.

Stern and Carey joined DirecTV in December 2003, after Rupert Murdoch's acquisition of the broadcaster was approved by regulators.

Gaining increased control over operations - including bringing customer service call centres in-house and selling superfluous assets - the two men gave DirecTV renewed focus after languishing under General Motors, its former parent company.

An unnamed source at the satellite broadcaster said of Stern: "His departure was a mutual decision between Mitch and Chase." Stern's last day was Friday, March 4.

In a subsequent statement Carey extolled: "While we considered 2004 a transition year, DirecTV achieved a tremendous amount under Mitch's leadership. Most notably, more new subscribers chose DirecTV last year than any other pay television service."

Despite continued losses at the broadcaster, investment will dominate Carey's stewardship, with DirecTV hoping to lure more new subscribers, increase high-definition programming and unveil new digital video recorders with interactive capabilities.

Data sourced from Financial Times online; additional content by WARC staff