Toronto, - CHUM Limited has announced major changes to its senior executives and the board of directors.
Respected broadcasting pioneer and founder of CHUM Limited, Allan Waters, is stepping down as chairman and president of the company. Waters has served as chairman and president of CHUM Limited since 1954. Waters will continue to provide counsel and advice as a consultant to the company and will also continue to serve as a director of CHUM Limited.
Jay Switzer, currently president of CHUM Television and a senior long-term employee of the company, was appointed to the board of directors of CHUM Limited today and will be the new president and chief executive officer. In this new position, he will oversee all operating divisions of the company and will serve with Jim Waters and Ron Waters on the company's executive management committee.
Jim Waters, currently executive vice-president of CHUM Limited and president, CHUM Radio, will leave these positions and assume the position of chairman of the board. Ron Waters will leave his current position of executive vice-president of CHUM Limited and assume the position of vice-chairman. Fred Sherratt, former chief operating officer of CHUM, is stepping down as vice-chairman. He will remain a director of CHUM Limited and a consultant to the company.
In announcing these changes, Allan Waters said "I am very pleased that the stewardship of the company as a whole will be in experienced and extremely capable hands. Jay Switzer has been a tremendous force in the success of our organization. He is an innovative leader with proven operating skills. I am confident that Jay has the skills and experience to lead the company in its future growth. Both Jim and Ron have been pivotal in the success of CHUM and the time has come for them to take a greater role on the board of the company."
The appointments will take effect today. Jay Switzer will be announcing new presidents for radio and television at a future date. Until
that time, Jim Waters will continue to serve as president of CHUM Radio and Jay Switzer will continue as president of CHUM Television.
CHUM Limited (TSE Symbol: CHM CHM.B, owns and operates 28 radio stations, eight local television stations and 17 speciality channels, as well as an environmental music distribution division. In addition to its international licensing arrangements, the Company's original content is seen in over 150 countries worldwide. CHUM content is also provided to online audiences on new media platforms, including interactive television, wireless services and exclusive CHUM-branded Internet properties.
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