IRVINE, Calif., May 5, 2020 /PRNewswire/ -- VIZIO, Inc., the #1 American-based TV brand1 and America's #1 Sound Bar company2, today announces that Adam Townsend has joined the company as Chief Financial Officer. As CFO, Townsend will take on a senior strategic role to further leverage VIZIO's leadership in TV and audio hardware while expanding its presence within the rapidly growing connected TV marketplace through VIZIO SmartCast® (VIZIO's smart TV platform), and its advertiser-direct business unit, VIZIO Ads.
Before joining VIZIO, Townsend most recently served as the Executive Vice President and Chief Financial Officer for Showtime Networks Inc. Previously, Adam held multiple roles at CBS Corporation, including Executive Vice President, Corporate Finance and Investor Relations, where he led the Company's treasury operations and global investor communications strategy. In addition, he played key roles in CBS' outdoor advertising business and the CBS Radio.
"Adam's exceptional record of financial operational experience within content, advertising, and streaming-based businesses – along with over a decade of media industry analysis – makes him a great addition to the existing talent at VIZIO," said William Wang, founder and CEO, VIZIO. "We welcome him to the team and look forward to leveraging his expertise as VIZIO pivots from a sole focus on hardware to a new vision for a complete media offering."
"VIZIO is uniquely positioned to capitalize on the rapid shift toward digital video consumption through a powerful combination of hardware excellence, software innovation and data analytics," said Adam Townsend, CFO, VIZIO. "Together with the long-term vision of founder William Wang and the rest of the deeply experienced executive team, we have tremendous tools to maximize the large opportunity in front of us."
VIZIO, the #1 American-based TV brand1 and America's #1 Sound Bar Company2, delivers innovative entertainment solutions and value for millions of connected consumers. Formed in 2002 and quickly established as a daring leader, VIZIO has built a portfolio of industry-leading products that provide brilliant, awe-inspiring experiences while incorporating seamlessly with the smart home. The company designs a collection of televisions, sound bars, and SmartCast TV with the consumer's desires in mind, and has been rated America's Fastest Growing TV Brand with Quantum Dot3 and America's Fastest Growing Sound Bar Brand with Dolby Atmos4. VIZIO product leadership is consistently highlighted by industry reviews and awards, and most recently received 30 Best of CES 2020 accolades.
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1 Source: The NPD Group, Inc., U.S. Weekly Retail Tracking Service, LCD TV, Based on units, Jan. 6, 2019 – Nov. 30, 2019 combined.
2 Source: The NPD Group, Inc., U.S. Weekly Retail Tracking Service, Based on Units, Dec. 24, 2017 – Feb. 15, 2020 Combined
3 Source: The NPD Group, Inc., U.S. Weekly Retail Tracking Service, LCD TV, Quantum dots included, Based on units, Jan. 6, 2019 – Nov. 30, 2019 vs. Dec. 31, 2017 – Nov. 24, 2018 combined. 4 Source: The NPD Group, Inc., U.S. Weekly Retail Tracking Service, Sound Bars, Dolby Atmos, Jan. 6, 2019 – Sep. 28, 2019 vs Dec. 31, 2017 – Sep. 22, 2018 Combined.