Synacor taps Comcast exec to lead turnaround
Synacor appointed former Comcast Cable manager Himesh Bhise as chief executive officer and a member of the board of directors.
Bhise most recently led New Services & Platforms for Comcast Cable, where he was responsible for incubating and operating growth businesses. His portfolio included new content platforms like XFINITY Streampix, advertising businesses, cloud products, prepaid services and apps, all transforming the consumer TV and video experience.
Synacor said in March that longtime CEO Ron Frankel would be stepping down once a successor was found. That announcement came on the heels of the company’s report of a 75 percent reduction in Q4 profit and a loss for the entire year. Frankel will continue to serve as company advisor and will remain on the Synacor Board of Directors.
"The Board of Directors unanimously agreed that Himesh's track record for rapid growth and EBITDA turnaround, as well as his deep skills in cross-platform technology, content and mobile makes him the right leader for Synacor at this time of enormous opportunity," said Synacor chairman Jordan Levy.
"I've known Synacor a long time. And now getting a close look at Synacor's next wave of products for MVPD and OEM customers, I'm confident the company has the assets, customer relationships and, most importantly, the people to overcome today's challenges. It is a great privilege to be appointed to lead Synacor at this pivotal moment in the company's history," said Bhise.
Before Comcast, Bhise was a senior operating executive at Charter Communications, where he was the general manager of its High Speed Internet business, which he helped grow to $1.4 billion, outperforming the industry in revenue growth.
Prior to Charter, Bhise served as general manager of AOL's Mobile division, growing the business substantially working with carriers, OEMs and developers around the world. Earlier, he was with McKinsey & Company as a leader in its telecom and M&A practice.