Cablevision Systems Corp. has elevated senior vice president John Bier to treasurer, while Elizabeth Dolce, who currently serves as a VP, has been promoted to assistant treasurer.
Bier has also been named an executive officer of Cablevision, and he will report to vice chairman and chief financial officer William Bell, who has extended his term of employment through year-end.
Cablevision said it has commenced an external search for a new CFO to succeed Bell, who is expected to serve as a consultant until Dec. 31, 2007, and remain on Cablevision’s board of directors.
“Today’s appointments are an important next step in strengthening our management team as we prepare for the spinoff of a new company later this year comprised of Cablevision’s satellite, national programming and theater businesses,” CEO James Dolan said in a prepared statement.
“John and Beth are real assets to Cablevision’s financial team and have played a key role in the company’s successes for a number of years,” he added. “We are gratified that they have accepted these new responsibilities. Meanwhile, we are moving forward with a broad-ranging search to find a suitable successor for our soon-to-retire CFO, Bill Bell, who has served our company so well for so long.”
Last month, Cablevision announced two other key changes to its management structure in anticipation of the spinoff, which is expected during the second half of the year, promoting former cable- and communications-division president Tom Rutledge to chief operating officer and tapping former Time Warner Cable executive John Bickham to fill the vacant spot.
As senior VP and treasurer, Bier will advise Cablevision’s senior management on key financial issues and oversee its treasury functions, including capital-structure planning; liquidity and liability management; and all capital-raising activity. He will also continue to be responsible for managing the company’s relationships with commercial and investment banks, as well as debt-rating agencies.
Dolce, as VP and assistant treasurer, will assist Bier in most aspects of managing the company’s treasury functions.
Both, on an interim basis, will also oversee the company’s investor-relations activities, which were previously held by Frank Golden, who recently departed to take a position outside of the company.
