Warner Bros. Entertainment Names Kim Williams as CFO

By Features Dow Jones Newswires

Warner Bros. Entertainment has named Kim Williams, formerly of Core Media Group, as its chief financial officer, succeeding Ed Romano, who became vice chairman.

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Ms. Williams most recently served as finance chief of entertainment company Core Media, which works with brands such as "American Idol" and is owned by Apollo Global Management LLC. She has also been chief operating officer of NFL Network and worked as finance chief for NBC West Coast.

"Kim is a proven finance pro with an impressive track record and a background that fits perfectly with our needs," said Warner Bros. Chief Executive Kevin Tsujihara, who leads Hollywood's largest film and television studio.

Warner Bros. is behind such productions such as "The Hobbit" and "The Voice."

The company on Thursday also promoted Reg Harpur to be executive vice president of operations and planning from his role as senior vice president and controller.

Last month, Warner Bros. said it would cut 1,000 jobs from its 8,000-person global workforce as part of a previously announced cost-cutting initiative that has loomed for months.

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The layoffs are part of larger cost cuts at the studio's parent company Time Warner Inc. in the wake of its rejection of a takeover offer in July from 21st Century Fox Inc. The Wall Street Journal was until recently part of the same company as Fox.

In a memo sent to employees, Mr. Tsujihara had said the divisions expected to be heavily hit by layoffs, including finance and information technology, would be undergoing more complex reorganizations continuing into 2015. The film and television production groups aren't being affected by the layoffs.

Warner Bros. is the biggest top-line contributor to Time Warner. In the most recently ended quarter, the studio posted 3% revenue growth from the year earlier, as TV products recorded higher growth in subscription video-on-demand revenue. The growth was partially offset by weaker theatrical-film performance.