Fuse Media CEO Michael Schwimmer Exiting Company In Management Reshuffling

Fuse Media

Fuse Media president and CEO Michael Schwimmer said he will resign from the company on Friday, with COO and CFO Mike Roggero set to replace him in the corner office.

Roggero has been with the company’s management team for the past 12 years. Schwimmer, who spent 16 years at Fuse and its progenitors, including 14 as CEO, plans to announce his next professional chapter “shortly,” according to the official press release about the change.

Fuse, a multi-platform media company part-owned by Jennifer Lopez, has hit some significant bumps recently on the cable distribution front. Its core cable network was dropped last December by Comcast and Verizon FiOS, with the distributors citing its soft performance. The company, which has unusually strong reach to young, multicultural audiences, has soldiered on, recently unveiling a new slate of programming, including several returning shows.

Schwimmer joined the company’s first board of directors in 2003 after shepherding Dish Network’s original investment into the start-up SíTV Media, which launched the SíTV cable network in 2004. It was the first English-language entertainment network aimed at the Latino community. He became CEO in 2005, shepherding the network through a rebrand to NUVOtv in 2011, and the following year a strategic alliance with Lopez and her company, Nuyorican Productions.

In 2014 came more changes, with Fuse being acquired for $226 million from the Madison Square Garden Co.

“I have spent nearly 16 years working closely with this incredible company, its board, executive team and some of the most talented people in media and entertainment, and am very proud of what we have built together,” Schwimmer said. “I am excited about what’s next, both for myself and with Fuse, and glad to know that the company is in the excellent hands of a strong executive team under the leadership of Mike Roggero – someone who has played a large role in setting Fuse up for future success.”

Roggero saluted Schwimmer’s “steady hand and sense of humor,” adding that the departing CEO’s “grit and determination over the years – often in the face of long odds – have been a key ingredient to our culture and our success.”

This article was printed from https://deadline.com/2019/04/fuse-media-ceo-michael-schwimmer-exiting-company-in-management-reshuffling-1202591321/