Televisa Chief Executive to Step Down

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FILE PHOTO: Emilio Azcarraga Jean, CEO and Chairman of the Board of Grupo Televisa, looks on after Mexico's President Enrique Pena Nieto's annual state of the union address in Mexico City September 2, 2013. REUTERS/Tomas Bravo/File Photo

Mexican media conglomerate Televisa yesterday confirmed that their chief executive would be stepping down at the end of the year. This is a man who will be remembered for the melodramatic telenovelas that managed to draw the attention of millions of viewers across the world. His name is Emilio Azcarraga Jean. The decision to step down is a personal decision, and he will be leaving the largest Spanish broadcaster there is around the world. The decision comes at a crucial time for the company as it has embarked on pilot programs that involve new programming styles. The company had been facing a difficult period after its approval ratings fell in the United States and Mexico as well. However, this offers the broadcaster an opportunity to make some major changes to its programming.
Some experts say that his departure will allow the addition of audiences. GBM media analyst Carlos de Legarreta said that the decision by the chief executive is a step forward. It’s a realization that major changes are required in the company. He further said that the company had fallen some few steps back in an industry that had experienced tremendous growth in the last few years. Refusing to change was not an option according to the expert. Since Mr. Azcarraga who is 49 at the moment is the largest shareholder, it has been revealed that he will resume the role of the chairman. This is a company that was established by his grandfather. The company announced that his role would be taken by two gentlemen known as Bernado Gomez and Alfonso de Angoitia. Mr. Alfonso has been with the company for a while, and he has been in-charge of operations. At the same time, these are individuals who have been working with the institution since he took the position of chief executive officer.

For the past few years, the company has been the leading entertainment company in the country. Before Mr. Azcarraga became the CEO, the position was held by his father Emilio Azcarraga Milmo. The company became a household name in Mexico when it masterminded a soap known as the Rich Also Weep back in the 1990s. Since this soap became an instant success, the company has specialized in producing such kind of entertainment. While the current chief executive did not change the current formula, he sought to take it to another level taking an aggressive approach that worked until recently.

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