It’s the end of an era at Fox Networks Group’s financial affairs operation. CFO Del Mayberry plans to retire on July 1, ending a more than 30-year tenure with the company, including 14 overseeing FNG’s finances.
He will be replaced by Ravi Ahuja, currently EVP of Business Operations and Development. He will manage finance and accounting and oversee business development for Fox Broadcasting, Fox Cable Networks, Fox Sports Media Group, National Geographic Partners, and Fox Networks Group Europe, Asia and Latin America.
The new CFO will report to FNG chief Peter Rice and COO Randy Freer, and work with 21st Century Fox CFO John Nallen.
Mayberry joined 20th Century Fox Film Corp’s accounting department in 1983 and in 1989 helped the company develop the fourth broadcast network.
Mayberry “leaves very big shoes to fill but Ravi is ideally suited to his new role,” Freer says. “He has done an exceptional job running our business development and has a proven track record in financial management and corporate strategy that perfectly fits the needs of our television portfolio at a time of seismic change for our industry.”
In a message to staffers, Rice says that Mayberry “has since been an instrumental part of the senior management team that shepherded the rise of our broadcast network, our global networks business, our industry-leading cable portfolio, our regional sports business and current streaming initiatives which are rapidly transforming how customers all over the world access our programming.”
Ahuja, he adds, played a key role in many of the company’s recent deals including the formation of National Geographic Partners, acquisition of a controlling stake in the YES Network and Sports Time Ohio, and plans for Fox Networks’ new channel strategy. He’s also on the boards of YES and Roku.
Prior to joining Fox, he was CFO at Virgin Entertainment and an Associate at McKinsey & Company.