Penske Media Announces Paul Rainey as New EVP of Operations & Finance
LOS ANGELES, Aug. 11, 2020 /PRNewswire/ -- Penske Media Corporation (PMC) today announced the appointment of Paul Rainey to Executive Vice President of Operations and Finance. In Rainey's new role, he will work across PMC's portfolio of award-wining brands, which includes Rolling Stone, Variety, Robb Report, SHE Media, Deadline, ARTnews and WWD. He will be based in PMC's LA office.
"We are very fortunate to have found someone of Paul Rainey's caliber and experience to lead a core group of the Penske Media brands," said PMC Chairman and CEO Jay Penske, to whom Rainey will report. "Paul's wide breadth of expertise in finance and operations will continue to help us thoughtfully scale our businesses for the long-term."
An accomplished senior executive with over 20 years of financial leadership experience across multiple verticals, Rainey will play a senior leadership role at PMC in all operation and financial decision-making affecting the various operating companies that will report into him. He will provide strategic financial input to senior management across corporate as well as across various lines of business, including the development and implementation of operational and financial procedures to improve and maintain the financial health of PMC and its leading media brands. He will also guide acquisitions and investments.
"I am eager to step into this exciting role at such a vibrant company with incredible growth potential on the horizon," said Rainey. "I look forward to working with Jay and PMC's leadership to ensure operational excellence and continued growth across each of the properties under my leadership."
Rainey's experience includes regulatory compliance, capital markets, financial planning and analysis, communication, business growth and all aspects of mergers and acquisitions. He previously served as Executive Vice President and Chief Financial Officer of Global Eagle Entertainment, a public company in the entertainment and satellite communications industry, where, under his leadership, the company secured a $150 million private equity investment. Prior to that, Paul was Chief Financial Officer of Harris CapRock Communications, where he led the successful sale of that business for $425 million. Before joining Harris CapRock Communications, Paul held several financial leadership roles with increasing responsibilities spanning 15 years with the General Electric Company including CFO of GE Lighting Professional Solutions and their Power Equipment business.
Rainey holds a Master of Science in Accountancy and a BBA in Finance and Computer Applications from the University of Notre Dame where he graduated cum laude. Rainey additionally walked-on the Notre Dame basketball team after receiving an academic scholarship, only to become the team captain in his senior year at Notre Dame. He is also Black Belt Six Sigma certified. He will be working from the Los Angeles headquarters of Penske Media.
About PMC
Penske Media Corporation (PMC) is a leading digital media and information services company whose award-winning content attracts a monthly audience of more than 240 million and empowers more than 1 million global CEOs, executives, and thought-leaders in business markets that impact the world. Our dynamic events, data services, and rich content entertain and educate today's technology, entertainment, retail, fashion, beauty, art and lifestyle sectors. Headquartered in New York and Los Angeles with additional offices in 12 countries worldwide, Penske Media is the way global business leaders and influencers are informed, connected, and inspired. To learn more about PMC and its constellation of iconic brands, please visit www.pmc.com.
SOURCE Penske Media Corp.
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