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Kennedy will remain Chairman of the company and Chairman of the Executive Committee of the Board.
As chief executive, Hayes will provide oversight to Cox Communications, Manheim Auctions, Cox Media Group and Cox Auto Trader and several corporate headquarters groups, including financial operations, human resources, administration and business development. He also serves as a member on the Board of Directors of Cox Enterprises and of Cox Radio.
"I have been the CEO of Cox Enterprises for 20 years and I feel that is long enough," said Kennedy. "Jimmy Hayes has earned the opportunity to be Chief Executive Officer of this company and in these difficult times, Jimmy's skills and experience are perfectly suited for the job. As Chairman of the Board, I am not going anywhere. I will still be around to provide Jimmy all the support that I can."
Hayes joined Cox Enterprises after having spent 16 years of his career in various leadership roles at Cox Communications, last serving as its executive vice president of finance and chief financial officer. Hayes began his career at Cox in 1980, and in 1982 was named a corporate officer. In 2005, Hayes was recognized as one of the media industry's best CFOs by Institutional Investor magazine.
Cox Enterprises is a media company and a provider of automotive services, with revenues in excess of $15 billion and more than 78,000 employees. Major operating subsidiaries include Cox Communications (cable television distribution, telephone, high-speed Internet access, commercial telecommunications, advertising solutions and Travel Channel); Cox Newspapers (newspapers, local and national direct mail advertising); Cox Television (television and television sales rep firms); Cox Radio (broadcast radio stations and interactive Web sites); Manheim (vehicle auctions, repair and certification services and web-based technology products); and Cox Auto Trader (automotive publications and a majority stake in AutoTrader.com).
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