CEO Randy Falco to exit Univision

Evarado Alatorre
Marcha 9, 2018

But now Univision Chairman Haim Saban has confirmed that Falco will exit before that time.

Just a few months ago, Falco, a former NBCUniversal executive, signed a extension to his contract, which was to go to January 2020.

"I would like to thank Frank for his tremendous contributions to Univision since joining in 2015, during which he led a strong and capable finance and accounting organisation in addition to managing our relationships with many of our external stakeholders", said Randy Falco, president and CEO.

"There are multiple rumors out there and on behalf of the Univision Board I would like to set the record straight about our CEO Randy Falco".

Univision said they have asked Falco to assist the board with leadership transition and restructuring over the next year.

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When Univision said Tuesday that CFO Francisco Lopez-Balboa was replaced by one of his lieutenants, Peter Lori, insiders told The Hollywood Reporter that Lopez-Balboa was taking the fall for the CEO. Insiders also say Univision is looking at ways to slash costs, so the jobs of some of its 4,000 employees may be in jeopardy.

According to Univision Holdings Inc, the move is due to current market conditions.

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Univision operates Univision Network and UniMas, formerly Telefutura, as well as cable channel Galavision, sports network Univision Deportes, Gizmodo Media and other assets.

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