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DirecTV President/CEO Stern Steps Down

3/08/2005 01:33:00 PM Eastern

EL SEGUNDO, CALIF. – DirecTV said Mitch Stern, president/CEO has left the company effective Monday after a little over a year on the job.

Chase Carey, president/CEO of parent DirecTV Group, will now oversee day-to-day operations of DIRECTV and. Stern's direct reports will report to Mr. Carey. DirecTV does not intend to replace. Stern.

“While we considered 2004 a transition year, DirecTV achieved a tremendous amount under Mitch's leadership,” said. Carey, “most notably, more new subscribers chose DirecTV last year than any other pay television service in the country. “

In a statement Stern said, “Serving as DirecTV’s president was very rewarding and I am very proud of all that we accomplished in the last year,” said Stern. “DirecTV is a great success story and a fabulous business with a very promising future. While it was exciting to be part of such a dynamic organization, the time was right for me to move on.”

Carey was named president/CEO of the DirecTV Group in December 2003 and serves as a director on the boards of the DirecTV Group and News Corporation.