Showtime Networks announced that Adam Townsend will step down from his role as chief financial officer at the end of the month.

To fill the position, Showtime named Michael Crotty as senior executive vice president and chief financial officer. In addition, Crotty will oversee BET Networks’ financial team. Townsend joined CBS in 2008 and began serving as Showtime’s CFO since October 2018. Crotty previously served as CFO of The Players’ Tribute since 2016.

David Nevins, chairman and chief executive officer at Showtime Networks, commented, “Adam has been invaluable to Showtime Networks and CBS, not only with managing our finances but also our overall leadership. He’s been an enormous help in driving our business through a year of many transitions, and we are sorry to lose him. We wish him all the best on what we expect will be an exciting next chapter. We count ourselves incredibly fortunate to be able to lure Michael back to Showtime.”

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