John Cassaday Announces Retirement As President And CEO, Shake Up At Corus Entertainment Is Imminent

John CassadayIt is not something that we want to have happen, but when a CEO leaves the company, one thing you can count on is a a shift in employment. Corus Entertainment, President and CEO, John Cassaday announced he plans to retire from the company on March 30, 2015.

“Under John Cassaday’s strategic leadership, Corus has grown and created a diversified portfolio of powerful brands, encompassing television, radio and content assets which have delivered significant long-term value to shareholders and customers over the past 15 years,” said Heather Shaw, Executive Chair. “Under John’s stewardship, Corus’ market cap has quadrupled, free cash flow has grown in excess of $175 million and our asset base has increased from $860 million at its inception to $2.8 billion,” she said.

John has been in the industry for 25 years in broadcasting and 15 years as President and CEO at Corus Entertainment.

So what’s next for Corus? Well if you look at what has occurred with other national companies lately, a new CEO will be announced, within two to three months they will announce a new plan for the company. With the announcement of the new plan two things will happen – some of the current leadership team will be let go, and others who do not agree with the new plan will leave on their own accord.