Chairman and Chief Executive Officer of YES Network, Leo Hindery, Jr., Announces Resignation as CEO [New York, NY]-Monday, April 5, 2004--Leo J. Hindery, Jr., Chairman and Chief Executive Officer of YES Network, today announced his resignation...
Chairman and Chief Executive Officer of YES Network, Leo Hindery, Jr., Announces Resignation as CEO
[New York, NY]-Monday, April 5, 2004--Leo J. Hindery, Jr., Chairman and Chief Executive Officer of YES Network, today announced his resignation as Chief Executive Officer. Mr. Hindery had been Chairman and CEO of YES since its inception in September 2001. Mr. Hindery will continue to serve as non- executive Chairman of YES.
"I have been honored to lead the management team and dedicated employees in the development and evolution of YES Network over the past several years," said Mr. Hindery. "Since I accepted the responsibility of helping to form YES, I have achieved all of my goals and our team has met and overcome every challenge. With the Yankees season just under way and with the very successful Cablevision arbitration recently behind us, I believe that now is the ideal time to turn my attention to other challenges and to fulfilling my personal passions for philanthropy, global AIDS work and progressive politics. In the meantime, I will continue to foster the success of YES in every way I can."
"I am grateful to Leo Hindery for his superb leadership of the Network," said George Steinbrenner.
Richard A. Friedman, Chairman of Goldman Sachs Capital Partners added, "There is no question that YES would not be where it is today without Leo's hard work, commitment and capabilities."
"He is an outstanding leader with tremendous vision and operating skills, and we wish him every success in his future endeavors," said Jonathan M. Nelson, Chief Executive Officer of Providence Equity Partners.
"The YES Network is the premier regional sports network in the United States and we thank Leo for his significant contribution," said Edwin H. Stier, speaking for the Nets' investors in YES.
Note: The announcement does not affect BAM! (British American Motorsport). Leo Hindery, Jr. will continue as the team's lead driver and the YES Network will continue as the team's primary sponsor.