Penney has worked with Starz CEO Albrecht in various incarnations, first at HBO and later as his co-founder in the Foresee Entertainment banner. In his new role Penney will focus on implementing strategic plans, crafting new business models and scouting new opportunities for the pay cable group.
“His deep insight into the global media and entertainment ecosystem is uniquely valued,” Albrecht said.
Penney was most recently exec VP of strategy and business development.
Penney’s appointment as chief strategy officer comes on the heels of the promotion of Michael Thornton to chief revenue officer. Both moves reflect Starz’s effort to beef up its infrastructure now that it is a stand-alone entity, which was spun off from Liberty Media late last year.