What: Univision Communications Inc. has announced that Vincent Sadusky will succeed Randy Falco as CEO of the media company.
Why it matters: Randy Falco was President and Chief Executive Officer for 8 years. He is seen as the responsible for UCI becoming a modern media organization with a significantly improved balance sheet. This CEO transition is a big step for the company.
U.S.-Hispanic-focused media company Univision Communications Inc. has announced that Randy Falco, whose retirement as President and CEO was communicated a few weeks ago, will step down from the role on June 1st. He will remain an advisor to the Company through the end of 2018 to ensure a smooth transition. Vincent Sadusky, former Chief Executive Officer of Media General, will succeed Falco as CEO and will also become a member of the Univision Board of Directors.
“Over the last eight years, Randy has led the transformation of UCI into a modern media organization with a diverse portfolio of assets, sterling brands and content that audiences and marketers want, backed by strong earnings growth, a significantly improved balance sheet and a team of motivated and purpose-driven employees,” said Haim Saban, Chairman of the Board of Directors of UCI. “Randy has always recognized and embraced Univision as an incredibly unique company with a mission and vision that goes well beyond traditional media.”
“Leading UCI has been one of the most personally and professionally rewarding experiences of my life. So much has changed –and will continue to change– in the media landscape but through it all one thing remains true: no other media company serves and supports Hispanic America like UCI, something that is more important than ever in our world today,” commented Falco. “I believe wholeheartedly in UCI’s mission and vision and am confident that the Company will remain on a path for continued success with Vince leading the way.”
Sadusky has been an active participant in the media industry throughout his career, serving as a board member of Hemisphere Media Group, the National Association of Broadcasters and NBC Affiliates. Sadusky currently serves on the board of directors of International Game Technology. He received a Master of Business Administration from New York Institute of Technology and a Bachelor of Science in accounting from Pennsylvania State University, where he was a University Scholar.
Sadusky commented, “It’s an honor and privilege to have the opportunity to serve as CEO of UCI, a company I have long admired for its important mission to serve as a lifeline and advocate for its community, and the strong bonds it has built with its audience. I am eager to work with UCI’s talented team to enhance the Company’s leadership position and underscore its crucial role as a source of news and information. Over the last few months, UCI has taken a number of steps to evolve and thrive in today’s rapidly changing media environment and I am committed to ensuring the Company is in the best position possible to serve its audiences for decades to come.”