07/17/2013 10:33 am ET Updated Sep 16, 2013

Phil Kent Out As Turner Broadcasting CEO, Will Be Replaced By John Martin

Phil Kent will step down as the CEO of Turner Broadcasting at the end of the year, it was announced on Wednesday.

Variety's Cynthia Littleton reported that Time Warner chief financial officer John Martin will take his place. Kent will also remain chairman of TBS for a part of 2014. The changes were revealed in a memo to staffers on Wednesday.

"At Phil’s initiation, he and I agreed that now is the right time to announce the next generation of leadership, and I am pleased that he will serve as Chairman,” Time Warner Chairman and CEO Jeff Bewkes said in a statement.

Kent is leaving after 12 years in the position. Earlier this year, he spoke out about the challenges facing CNN as it attempts to overhaul his programming. "I think what we’ve had, quite frankly, is not enough great behind-the-camera talent," he told Broadcasting & Cable. "I think we have a number of fantastic producers at CNN but we need more."



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