Sinclair, Inc. (NASDAQ: SBGI) has announced the upcoming retirement of Lucy Rutishauser, the company's Executive Vice President and Chief Financial Officer. Ms. Rutishauser, who has been with Sinclair since 1998, has held various leadership positions and has been recognized for her leadership in multiple industry awards.
During her tenure as CFO, Ms. Rutishauser has overseen significant financial accomplishments, including the completion of an almost $4 billion comprehensive restructuring of the company's balance sheet. Her leadership has been acknowledged through various accolades, including being named among "50 Women to Watch for Boards," "Maryland's Top 100 Women," and "Best Finance Leaders."
Sinclair has expressed its appreciation for Ms. Rutishauser's contributions over the past 26 years, citing her role in leading the company through industry consolidations, economic downturns, and cybersecurity incidents. David Smith, Executive Chairman of Sinclair, lauded her for successfully managing complex capital market transactions that provided the company with the flexibility to grow and transform. In addition, Chris Ripley, President & CEO, commended her for ensuring that the company is well-funded for the future and for her mentorship and leadership within the organization.
Following her retirement, Ms. Rutishauser is expected to continue her involvement with Sinclair in a senior advisory role, offering her insights and contributions to the company. She has expressed her excitement about focusing on family and the next chapter of her career, which includes board service and advisory roles.
Sinclair has announced that the search for Ms. Rutishauser's successor, which will consider both internal and external candidates, is expected to commence shortly. The company looks forward to continuing its industry-leading and value-creating initiatives with the support of its strong financial position and passionate employees.
Sinclair, Inc. is a diversified media company and a leading provider of local news and sports, with ownership, operation, or service provision to 185 television stations in 86 markets. The company also owns the Tennis Channel and multicast networks, including Comet, Charge!, TBD/Roar, and The Nest. Sinclair's content is delivered through various platforms, including over-the-air, multi-channel video program distributors, and the nation's largest streaming aggregator of local news content, NewsON.
As Ms. Rutishauser prepares to step into the next phase of her career, the company is set to embark on the search for a successor who will continue the financial stewardship that has been a hallmark of her tenure.
Sinclair's stockholders and the financial community will be watching closely as the company transitions to new leadership in the CFO position, following the retirement of an executive widely respected for her financial acumen and leadership. As a result of these announcements, the company's shares have moved -2.3% on the market, and are now trading at a price of $16.57. If you want to know more, read the company's complete 8-K report here.
