Channel 4 names ex-Sky exec Thomas as CFO

UK broadcaster Channel 4 has named Lucy Thomas as its chief financial officer.

Lucy Thomas (Source: Channel 4)

In this newly created executive role, reporting directly to CEO Alex Mahon, Thomas will lead finance across the organization, acting as a business partner to the CEO and Executive team, identifying commercial and strategic opportunities and supporting the digital transformation of the business.

Thomas was most recently chief financial and operating officer at Bauer Audio. Prior to this, she spent more than 20 years at Sky, progressing through a range of commercial finance director and commercial managing director roles before becoming group chief data officer. She started her career with Arthur Andersen in London, where she qualified as a Chartered Accountant.

Thomas will take up her new role on April 22. Her appointment comes after a challenging period for the advertising-financed pubcaster, with Channel 4 announcing in January that it was cutting 18% of its workforce as it pivots to a digital-first streaming model.

Digital revenues

Digital revenues accounted for 27% of C4’s total revenues last year, but the broadcaster aims to increase this to 30% in 2024 and pass the “tipping point” of 50% by 2030.

Mahon said: “I am delighted to welcome Lucy to Channel 4. She has extensive experience of media industry transformation and joins us at a crucial time, as we implement our ambitious strategy to protect our long-term sustainability and become the world’s first public service streamer. Lucy is an innovative, data-driven and strategically focused leader, and I have no doubt she will have tremendous impact at Channel 4.”

Thomas said: “I am thrilled to be joining Channel 4 as CFO. It is a fantastic organisation with a unique purpose – creating change through entertainment – in a way that I love as a viewer. I can’t wait to start working with Alex and the wider Channel 4 team.”