STAR taps Aiello as CEO
EmptyBEIJING -- STAR, News Corp.'s Hong Kong-based pan-Asian television broadcaster, on Friday appointed investment banker Paul Aiello as its new CEO. He replaces Michelle Guthrie, who is resigning after six years with the company, which broadcasts to more than 60 television services in nine languages to more than 300 million viewers across Asia.
Guthrie will leave the Hong Kong-based company on March 1. No reason was given for her departure in the statement issued by STAR.
Prior to joining STAR as a business strategist last June, Aiello, was in charge of U.S. investment bank Morgan Stanley's Asia Pacific Telecom, Media and Technology Group, where he advised STAR on strategy and investments for more than five years.
News Corp. chairman Rupert Murdoch praised outgoing CEO Guthrie for her work and said that Aiello was an ideal successor.
"Paul's business acumen, strong leadership and financial skills as well as in-depth knowledge of the diverse and complex media and telecommunications industries in Asia make him the ideal candidate to steer the longterm growth and success of the company," Murdoch said in the statement.
Aiello, who holds a doctorate in economics from Cambridge, said he will work closely with Guthrie in the coming months to ensure a smooth transition and that he looks forward to "even more robust and profitable growth in the years to come."