Viacom's Infinity Broadcasting has promoted president/COO Joel Hollander to chairman/CEO. The move has been widely anticipated, ever since reports began leaking that John Sykes would step down as Infi
Viacom's Infinity Broadcasting has promoted president/COO Joel Hollander to chairman/CEO. The move has been widely anticipated, ever since reports began leaking that John Sykes would step down as Infinity CEO. Infinity now confirms that Sykes is, in fact, leaving to take on a new role at sister Viacom unit MTV Networks, overseeing the development and launch of new branded television networks. Details on Sykes' new position are expected shortly.
In his new position, Hollander -- who has served as president/COO since May 2003 -- will have overall responsibility for Infinity's 183 radio stations and will oversee day-to-day operations. He reports to Viacom co-president/co-COO Les Moonves.
Sykes was named head of Infinity in March 2002. He was previously president of VH1 and CMT, which Viacom also owns.
"Joel is one of the finest operators in the radio business, hands down," Moonves said in a statement. "He has brought tremendous energy, industry savvy and discipline to Infinity Broadcasting since joining the company, where he has helped our stations grow their ratings and revenues in a challenging advertising climate. He's also helped sell Madison Avenue on the power of radio and our Infinity brands, which has made a huge impact. I have the utmost confidence in Joel and his team, and I look forward to working with them as we realize the full potential of our industry-leading portfolio."
Of Sykes, Moonves said: "John brought real big-picture, out of the box thinking to radio, which is what the industry has needed for a long time. The same attributes that distinguished him at MTV Networks translated into creative, non-traditional radio programming for Infinity, and the industry took notice. He has wanted to get back to television for some time, and this new role represents a great opportunity for him to do what he loves most."