Skydance Appoints Finance Team to Manage $80 Billion Debt

Skydance Corp. named the finance executives who will manage the $80 billion debt load of the newly merged Paramount and Warner Bros. Discovery entity. The appointment places the financial leadership team in charge of executing a plan to cut $6 billion in annual costs. This strategy involves multiple rounds of employee reductions across the combined company.

David Ellison and co-CEO Ynon Kreiz announced the senior leadership group the day before the merger officially closed on Tuesday. Since that initial announcement, various business units have revealed their own management structures. On Wednesday, Dennis Cinelli, the chief financial officer, sent a memo to staff detailing the specific roles within the finance division.

The combined enterprise projects pro-forma annual revenue of nearly $70 billion. The finance group will oversee this financial footprint while implementing the savings targets. The restructuring aims to consolidate operations and reduce overhead across the new organization.

Kevin Creighton will lead an expanded corporate finance and treasury organization. His portfolio includes strategic finance, financial planning and analysis, and content finance. He will also serve as the interim head of investor relations until a permanent successor is found. Fraser Woodford, the former treasury executive at Warner Bros. Discovery, will remain in his role through March 2027 to facilitate the transition.

Other key appointments include Todd Davis as the head of global tax and Kathy Gill-Charest as controller and chief accounting officer. Sandy Pundmann will serve as the chief audit risk officer. Simon Robinson will head the Integration Management Office as the chief business transformation officer. This office will coordinate the operational merging of the two previous companies.

Business unit chief financial officers will report directly to Cinelli and their respective department heads. Mark Badagliacca will lead film, while Patrick Cavanaugh will manage distribution. Nitin Chawla will oversee global content sales, and Adam Cohn will lead CNN. Eric Gray will head TV studios, and Christine Hong will manage advertising and revenue operations.

Kedar Nadkarni will lead consumer products, publishing, and DC comics. Ben Paul will oversee games and experiences, and Josh Walker will manage streaming. Liz Wright will serve as the CFO for the television segment. Bryon Rubin is leaving his position as CFO of TV Media to become the chief operating officer of Skydance Television.

Cinelli outlined six pillars for the finance organization in his memo. These include maintaining accurate financial closes, setting accountable plans, and partnering with business leaders. The group will also utilize data and artificial intelligence for decision-making. Additionally, the team will focus on communicating financial performance to stakeholders and developing future leaders.

The finance chief expressed confidence in the new team's ability to handle the integration challenges. He noted that the company aims to become a next-generation media and entertainment entity, a goal that requires high-level financial management. The new structure is designed to reflect the strengths of both predecessor organizations.

The finance team will begin operating immediately to support the ongoing integration process. The first step involves unifying financial reporting and compliance standards. This work supports the broader corporate effort to streamline operations and meet debt obligations.