DirecTV Group Inc. announced PepsiCo Inc. executive Michael D. White as its new president and chief executive on Wednesday. White has a reputation as a multi-billion-dollar deal maker and his appointment is expected to bring new competitive strategies to the pay-for-TV business.
White’s deal making experience should be advantageous for DirecTv as they prepare to merge with majority shareholder, Liberty Entertainment. This is well traveled territory for White who spearheaded negotiations for a $7.8 billion acquisition of Pepsi’s two largest independent bottlers.
DirecTV Chairman John Malone has expressed his satisfaction with White in a recent statement saying, "After a very thorough search, we have found an exceptional leader with a sustained track record of success, profitably growing businesses and a reputation for making the impossible possible."
White is the replacement of Chase Carey to resigned from his post to accept a job as top lieutenant to News Corp. (NWS) Chairman C.E.O., Rupert Murdoch in June.
DirectTV experienced $366 million in third quarter gains, among few companies seemingly insulated from the downturn due to breakthrough technology that has given them an edge over competitors. The company posted third quarter gains of $366 million and have continued to improve with shares rising 13 cents to $31.05 since the announcement.
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