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Beau Ferrari has been promoted to the role of Chairman of NBCUniversal Telemundo Enterprises, succeeding Cesar Conde who departed to head up NBCUniversal News Group in May.

In his new role, Ferrari will oversee the company’s media portfolio which includes the Telemundo broadcast network. He will report to directly to NBCUniversal Television and Streaming chairman Mark Lazarus, and direct a substantial portfolio within NBCU which also comprises entertainment, sports, news, cable, global studios and 30 local stations.

“Beau is a strong leader with extraordinary business acumen and deep media experience across all media platforms and the Hispanic market. During his three years with the company, he has made a tremendous impact as Telemundo became one of NBCUniversal’s fastest-growing businesses,” said Lazarus. He added, “Beau is ideally suited to seamlessly take over the reins of Telemundo and build on its phenomenal success.”

Ferrari has served as executive vice president of NBCUniversal Telemundo Enterprises since 2017, overseeing the company’s operations, financial performance, corporate strategy and development for the portfolio of businesses.

“It’s an incredible honor to lead the talented team at Telemundo Enterprises, particularly at a time when there is so much momentum in this business,” said Ferrari. “I am excited for the opportunity to take the company to the next level and guide Telemundo’s continued growth.”

Prior to joining NBCU, Ferrari held senior executive positions at Univision Communications Inc., including executive vice president of Corporate Strategy and Development. Prior to that, Ferrari was co-founder and partner of a private equity investment firm and began his career in investment banking with Morgan Stanley.