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 retirement triggers several other executive moves for the company—including the promotion of former Dayton Daily News publisher Doug Franklin to Cox Enterprises’ executive vice president and chief financial officer, effective May 1. Franklin, 55, is the current president of Cox Media Group, the subsidiary that controls Cox’s newspaper, radio and television assets. He also served as former publisher of the Atlanta Journal-Constitution.
In his new role, Franklin will be responsible for the company’s treasury, financial reporting and control, as well as tax and audit functions. He also has responsibility for public policy, supply chain services, information technology, risk management and legal. Franklin joined the company more than 30 years ago as a door-to-door circulation solicitor.
“Doug has spent his entire career with Cox and will make a great addition to the Cox Enterprises senior leadership team,” said Jim Kennedy, chairman of Cox Enterprises in a news release. “His extensive experience in both finance and operations is the ideal background for this role, and the skills he’s honed for the past three decades will serve him well as he makes his transition.”
Cox’s media operations in Ohio include the Dayton Daily News, the Springfield News-Sun, the Middletown Journal, the Hamilton Journal-News, WHIO-TV, K99.1 FM, AM 1290/95.7 WHIO-News Talk Radio and 95.3FM/The Eagle.
Cox Enterprises reported more than $15 billion in revenue in 2012 and has more than 50,000 employees. Key subsidiaries in addition to Cox Communications and the media holdings include auto auction company Manheim and AutoTrader.com.
Other executive moves include:
John 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.
And, Bill Hoffman, 58, the current executive vice president of Cox Media, will replace Franklin as the media group’s president.
The Atlanta Journal-Constitution contributed to this report.