Amy Listerman, chief financial officer at Fox News Media, will step down from her role, and will be replaced by Joe Dorrego, a Fox Corp. executive who will become both chief financial officer and chief operating officer at the company, which is the critical financial engine of its parent company.
Listerman will step down effective April 1. She joined the company in April of 2017.
“I would like to express my gratitude to Amy for her invaluable contributions over the last three years and for her partnership with our entire team. We understand her desire to move on to new opportunities and we will miss her complete and tireless dedication to all facets of our business,” said Fox News Media CEO Suzanne Scott in a memo to staff Friday.
Through the fees it command from cable and satellite distributors, Fox News provides a sizable chunk of operating income to Fox Corp. Its importance to the company has grown in the wake of last year’s sale of Fox’s cable and studio assets to Walt Disney. Fox Corp. has billed itself as a more focused media company with a portfolio of live events from the worlds of news and sports. As the coronavirus pandemic upends the nation’s live-sports schedule, Fox Corp. will be even more dependent on Fox News programming to lure sizable viewership and subscriptions.
Dorrego has been with Fox Corp. for more than 15 years, most recently as its chief investor relations officer and executive vice president of corporate initiatives. “He will be a tremendous asset as we continue to drive growth across all Fox News Media platforms,” Scott said. Dorrego will continue in his investor relations role at the parent corporation.
Before joining Fox News, Listerman served as the CFO and senior vice president of advertising sales and head of ad-sales data strategy at Scripps Networks Interactive. She was responsible for financial revenue and cost management of the roughly $2 billion advertising sales division. She joined the company in 2012, and saw her role expand in 2016 to include leadership of the Scripps data and analytics organization, managing a team of 35 across the finance, data science & digital research and insights departments. She also logged a stint at NBCUniversal, rising to senior vice president of ad sales finance. pricing and strategy, where she supervised management of approximately $2 billion ad revenue for NBCU’s network news, cable news, Spanish-language broadcast and digital media properties. She also held financial management roles at Goldman Sachs and Procter & Gamble.
Dorrego previously served as the CFO for Fox Television Stations under its CEO Jack Abernethy, a position he held for four years beginning in 2015. He spent 11 years serving in a variety of executive roles at 21st Century Fox, including vice president of investor relations and vice president of finance where he oversaw the company’s financial planning and analysis functions. He joined then News Corp in 2004 as director of SEC reporting and accounting policy from PricewaterhouseCoopers LLC where he began his career in the business advisory group serving clients in the telecommunications and professional sports industries.
More to come…