BSkyB Appoints Darroch As Chief Financial Officer
BSkyB has appointed former Dixons finance director, Jeremy Darroch, as its new chief financial officer, marking the most senior management appointment to be made by James Murdoch since taking the helm of the satellite broadcaster.
Darroch will join BSkyB following release negotiations with Dixons and will be appointed to the broadcaster’s board upon taking up his new post. He replaces Martin Stewart who will continue to work at Sky until 4th August.
Darroch joined Dixons in 2000 as retail finance director, rising through the company to the position of group finance director in 2002. Prior to working for Dixons he enjoyed a 12 year career with FMCG giant Procter & Gamble in a variety of roles throughout the UK and Europe, most recently as European finance director for the company’s health care businesses.
Commenting on his appointment Darroch, said: “I am very pleased to be joining BSkyB at such an exciting time in the company’s development. I have followed the progress at the company closely over the past few years and look forward to joining a strong team.”
Sky’s chief executive, James Murdoch, added: “We are delighted to welcome someone of Jeremy’s calibre to BSkyB. He has a strong track record in a highly competitive industry and his experience in operating in consumer-facing enterprises will be very valuable as BSkyB grows its business for the future.”
Darroch’s appointment is indicative of BSkyB’s determination to increase its customer base. The company already uses Dixons’ 600 stores as prime outlets for its service and has already outlined that its priorities for the coming year lie with pay-TV (see BSkyB Shelves Plans For New Entertainment Channel).
Last month Sky announced a drop in overall subscriber rates with growth failing to meet expectations. During the third quarter of 2003 uptake slowed to 66,000 net new subscribers, well below the average of 100,000 a quarter needed if the company is to meet its target of eight million subscribers by the end of 2005 (see Sky Subscriber Rates Drop But Sky Plus Doing Well).
Sky: 08702 40 40 40 www.sky.com
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