Satellite television provider DISH Network Corp. (DISH: Quote) Friday said it has appointed Steve Swain, senior vice president of Programming, as Chief Financial Officer. Swain succeeds Robert Olson, DISH's executive vice president and CFO, who is retiring from the company on October 15.
In his new role, Swain will report to President and CEO Joseph Clayton.
Before his stint as senior VP of Programming, Swain was vice president of Corporate Financial Planning and Analysis. Prior to DISH, Swain worked in the telecommunications sector for more than 15 years, most recently at CenturyLink Inc. (CTL), formerly Qwest Communications.
Clayton said, "Steve has been a star since the day he arrived. He has a command of the entire Finance organization and, having had the chance to lead our Programming group, he is equipped to offer a sound strategic perspective to our entire business."
Commenting on Olson, who was with the firm over the past five years, Clayton noted that Robert is as capable and strategic a CFO as he has ever encountered in his 42 years in business.
Under Olson, DISH recently reported a profit in its second quarter, compared to last year's loss, on the absence of prior year's significant impairment expenses, and higher revenues. The company activated approximately 656,000 gross new pay-TV subscribers in the quarter, an increase of 5.1 percent from last year, driven primarily by increased advertising.
On Nasdaq, DISH shares settled at $65.35 on Thursday, up $1.04 or 1.62 percent.
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by RTT Staff Writer
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