Ray Rodriguez will step down at the end of the year from his post as president/COO of Univision Communications, the nation's largest Spanish-language media company.

The company announced that 35-year old Cesar Conde will be promoted to president of the Univision Networks and that Univision Communications CEO Joe Uva will also assume the presidency of the company.

Conde, who was most recently executive VP and chief strategy officer of Univision Communications, begins his new role Oct. 1.

Sources say the COO position is not being filled.

Rodriguez joined Univision in 1990, when it was owned by the Hallmark Network, and oversaw its rise to a TV and radio ratings powerhouse—one whose outlets frequently outrank their English-language counterparts.

Rodriguez’ retirement comes as the company tries to get out from under a $10 billion debt load in the wake of its 2007 private-equity takeover.

A graduate of Harvard University and Wharton Business School, Conde has held interactive, sales and business development executive roles at Univision.