Corus Entertainment CEO Doug Murphy retires, Troy Reeb and John Gossling to lead
Corus Entertainment president and CEO Doug Murphy has decided to take an early retirement, with senior execs Troy Reeb and John Gossling named co-CEOs.
Murphy, who has been with Corus since 2003 and led the Canadian broadcast group since 2015, exits on the heels of news that the company will lose several key output and trademark deals with Warner Bros Discovery.
The news, which emerged a week ago, prompted Corus’s already low stock price to sink by around 60% to 20 Canadian cents per share.
“Under Doug’s leadership, Corus has created a diversified portfolio of powerful brands encompassing television, radio and content assets,” said the company’s executive chair Heather Shaw.
“Doug’s passion for bringing content to Canadians, including fair and balanced news, is renowned. On behalf of the board, I thank Doug for his many years of commitment and leadership at Corus and wish him well on his new chapter.”
Reeb and Gossling’s appointments are effective immediately, with Gossling also retaining his position as chief financial officer. Reeb, who was formerly exec VP of networks and broadcasting, will now solely serve as co-CEO.
In their new capacities, Reeb will oversee all revenue, marketing, sales and distribution aspects of the company, while Gossling will add oversight of corporate strategy, technology and all other corporate functions.
In addition to those appointments, Jennifer Lee, who was formerly exec VP and general counsel, has been appointed chief administrative officer and chief legal officer with oversight of legal, regulatory, human resources, communications and other corporate functions.
Corus said Greg McLelland, executive VP and chief revenue officer, and Shawn Kelly, executive VP of technology, continue to serve on the executive leadership team.
“Succession planning is an integral part of our operations. Troy and John are seasoned senior broadcast and media executives who each have exceptional experience, a strategic mindset and deep understanding of the industry,” added Shaw.
“The board and I are extremely confident in their ability to guide Corus through the evolving regulatory and competitive landscape, and make smart, strategic choices that best position the company for the future.”
