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Stern Steps Down At DirecTV

3/21/2005 02:00:00 AM Eastern

DirecTV said Mitch Stern, president/CEO has left the company 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. Stern's direct reports will report to 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, “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.