The president and CEO of Atlanta-based Cox Enterprises, one of the nation’s biggest privately held companies, announced Tuesday he will retire next year.
Jimmy Hayes, Cox’s top officer since 2008, plans to retire next April, though he will remain on the board of directors.
His successor will be John Dyer, a 36-year Cox veteran. Dyer, 59, has spent most of his career in Cox Communications, the cable TV and internet company that is Cox’s biggest unit by revenue.
Hayes, 60, has worked at Cox for 33 years, starting as an accounting manager and rising through the ranks in the cable business before becoming the No. 2 executive of the parent company in 2005.
Cox’s media operations in Atlanta include The Atlanta Journal-Constitution, WSB-TV, AM 750 and 95.5FM News/Talk WSB. The company also owns media outlets in other cities.
Cox Enterprises reported more than $15 billion in revenue in 2012 and has more than 50,000 employees, including more than 8,000 in Georgia. Key subsidiaries in addition to Cox Communications and the media holdings include auto auction company Manheim and AutoTrader.com.
“Jimmy has led an impressive career at Cox, and I consider it a privilege having worked alongside him for so many years,” Jim Kennedy, chairman of Cox Enterprises, said in a news release.
Hayes’ retirement will trigger other executive moves.
Dyer, Cox’s executive vice president and chief financial officer, will be promoted to chief operating officer effective May 1, and he will replace Hayes as president and chief executive upon Hayes’ retirement.
Dyer started his career with the company as an internal auditor and later as a financial analyst in the cable division.
After a stint with Time Mirror Cable – which Cox acquired in 1995 – Dyer returned to Cox Communications and rose to chief financial officer before joining the parent company.
“John is a seasoned Cox leader with deep and rich experience in both finance and operations,” Kennedy said in the release.
Doug Franklin, 55, the current president of Cox Media Group, the subsidiary that controls Cox’s newspaper, radio and television assets, will become Cox Enterprises’ executive vice president and chief financial officer effective May 1. He is a former publisher of the AJC.
Bill Hoffman, 58, a former WSB-TV general manager and the current executive vice president of Cox Media, will replace Franklin as the media group’s president.
