DirecTV Names Michael White As CEO, Replacing Chase Carey
DirecTV has named PepsiCo Vice Chair MICHAEL WHITE as its new CEO, effective January 1, according to Ben Fritz of the L.A. TIMES. White replaces former DirecTV President & CEO CHASE CAREY, who left the company in June to become News Corp. Deputy Chair, President & COO. Carey's departure resulted in a "five-month search for a replacement." White has "no experience in striking deals with networks or the technology behind satellite television, but DirecTV is probably counting on his marketing expertise to maintain and expand its customer appeal." White's experience "running Pepsi's overseas operations will also be useful as DirecTV tries to grow its business in Latin America, where it has 6.1 million subscribers." DirecTV has 18.4 million U.S. subscribers (L.A. TIMES, 11/19). The WALL STREET JOURNAL's Roger Cheng writes DirecTV will draw on White's "consumer retailing background, as well as his experience in striking multibillion-dollar deals, to lead it through increasingly competitive waters" (WALL STREET JOURNAL, 11/19). CABLEFAX DAILY writes White's selection was a "bit of a surprise, but it makes sense when you consider his branding and int'l expertise." Wells Fargo yesterday in a research note said, "While we are somewhat surprised with the announcement given that Mr. White's experience is outside the TV distribution business, we believe his strategic and financial experience is a good fit for DTV and a suitable replacement for Chase Carey" (CABLEFAX DAILY, 11/19).
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