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John Cassaday Announces his retirement

Posted By : Mukesh Dube    At 1/13/2015 12:18:24 PM

Tags : John Cassaday    Corus Entertainment    

Corus Entertainment's  President and Chief Executive Officer, John Cassaday, has  announced that, after 25 years in broadcasting and 15 years as President and CEO of Corus Entertainment, he is retiring from the Company at the end of his contract term, effective March 30, 2015.

Doug Murphy, Chief Operating Officer, will assume the role of President and Chief Executive Officer of Corus following John's departure.

"Under John Cassaday's strategic leadership, Corus has grown and created a diversified portfolio of powerful brands, encompassing television, radio and content assets which have delivered significant long-term value to shareholders and customers over the past 15 years," said Heather Shaw, Executive Chair. "Under John's stewardship, Corus' market cap has quadrupled, free cash flow has grown in excess of $175 million and our asset base has increased from $860 million at its inception to $2.8 billion," she said.

During his tenure, John has received noteworthy recognition for his involvement in the industry and the community. In 2004, he received the Gold Medal from the Association of Canadian Advertisers and was honoured by the Canadian Association of Broadcasters for his exceptional commitment to broadcasting with the Gold Ribbon Award for Broadcast Excellence. In 2006, he was inducted into the Marketing Hall of Legends and in May 2015, he will be similarly honoured by the Canadian Broadcast Industry Hall of Fame. John's creation of and commitment to Corus' core values has resulted in numerous company awards for excellence in investor relations, employee relations and content. He has been instrumental in raising awareness and funds for charitable causes and educational institutions, establishing Corus' corporate giving strategy Corus Feeds Kids, serving as Chair of the United Way campaign for Metro Toronto and co-chairing fundraising campaigns for St. Michael's Hospital and Rotman School of Management. John is also a member of the Order of Canada.