Howard Averill has been named the next chief financial officer of Time Warner Inc., the company said Monday. He succeeds John Martin, who is assuming a new role as chief executive officer of Turner Broadcasting System.
Averill currently serves as the chief financial officer of Time Inc., so he is intimately familiar with the corporate culture at Time Warner. At Time, Averill currently oversees the company's financial functions and strategies, including all accounting, budgeting, reporting and tax activities.
For a 10-month period in 2011, he was part of a three-member executive team that led Time Inc.
"It's been a great privilege to work alongside many talented colleagues at Time Inc., who have accomplished so much during an eventful time in media," Averill said in a statement. "I am grateful to Jeff Bewkes and John Martin for giving me the opportunity to grow personally and professionally in that role, and I'm excited and look forward to joining Time Warner's management team."
Prior to joining Time Inc. in 2007, Averill was executive vice president and chief financial officer at NBC Universal Television. He was also an executive at ITT/ Sheraton Corporation and held positions with Pepsi-Cola Company and Arthur Andersen & Co.