Skydance Installs Finance Team to Manage $80 Billion Debt and $6 Billion Savings Target

The newly formed Skydance Corp. has finalized its executive finance roster, placing a team in charge of a balance sheet carrying approximately $80 billion in net debt. The company, created from the merger of Paramount and Warner Bros. Discovery, faces an immediate mandate to generate $6 billion in annualized cost savings. This financial restructuring is expected to trigger several rounds of layoffs as the entity consolidates its operations.

Dennis Cinelli, the Chief Financial Officer, announced the leadership lineup in a memo to staff on Wednesday morning. The combined business is projected to generate nearly $70 billion in annual revenue on a pro-forma basis. Cinelli stated that the new organizational structure reflects the strengths of both legacy companies and places the right leaders in the right places. He acknowledged that the Warner Bros. Discovery finance team maintained performance during a long period of uncertainty regarding the deal's outcome.

Kevin Creighton will lead the expanded corporate finance and treasury organization. His portfolio includes strategic finance, financial planning and analysis, and content finance and strategy. He will also oversee investor relations on an interim basis while the company searches for a permanent head of that function. Fraser Woodford, currently the EVP of Treasury at Warner Bros. Discovery, will remain through the end of March 2027 to facilitate the transition of work and assist in finding his successor.

Other key corporate appointments include Todd Davis as the head of global tax, Kathy Gill-Charest as controller and chief accounting officer, and Sandy Pundmann as chief audit risk officer. Simon Robinson will serve as the chief business transformation officer. In that role, he will head an Integration Management Office responsible for coordinating the combination of the two businesses. This office will oversee the operational integration of the newly merged entities.

Business unit CFOs will report to both Cinelli and their respective unit heads. Mark Badagliacca will manage film finance, while Patrick Cavanaugh will oversee distribution. Nitin Chawla will lead global content sales, and Adam Cohn will manage CNN. Eric Gray will head TV studios, and Christine Hong will manage advertising and revenue operations. Kedar Nadkarni will oversee consumer products, publishing, and DC comics, while Ben Paul will manage games and experiences. Josh Walker will lead streaming, and Liz Wright will handle the television segment. Bryon Rubin is leaving his post as CFO of TV Media to become the COO of Skydance Television.

Cinelli outlined six pillars to guide the finance organization. These include maintaining fast and accurate financial closes, ensuring full compliance, and setting plans that drive accountability. The team will partner closely with business leaders and utilize data and AI for decision-making. The group will also focus on communicating the financial story to stakeholders and building a talent pipeline for future leadership. Cinelli noted that the company aims to become the next-generation media and entertainment company, a goal that depends on high-level financial operations.

David Ellison and Ynon Kreiz, the co-CEOs of Skydance, announced the senior leadership team one day before the deal officially closed. Individual business units and corporate groups have been revealing their own executive lineups since then. Cinelli expressed confidence in the new team's ability to navigate the challenges of integrating the businesses. He emphasized that the company's actions and methods are equally important in achieving its strategic objectives.