Don Cornwell and John Deushane are stepping down as chairman-CEO and COO of Granite Broadcasting, respectively. They will be succeeded by Peter Markham, a board member since 2007, as chairman, and Duane Lammers, a consultant to the company since mid-2008, as COO.
Don Cornwell and John Deushane are stepping down as chairman-CEO and COO of Granite Broadcasting, respectively, the station group announced this afternoon.
Taking over: Peter Markham, a board member since 2007, as chairman and Duane Lammers, a consultant to the company since mid-2008, as COO.
“After 21 years, I will be taking a step back from the day-to-day operations of Granite,” said Cornwell in a prepared statement. “Since Stuart Beck and I founded the company in 1988 with the purchase of stations in Duluth and Peoria, Granite has developed from an entrepreneurial idea into a diverse station group which operates and provides services to 23 channels in 11 markets, reaching more than 6 percent of U.S. television households.”
John Deushane said he feels honored to have worked at the company for some 20 years. “When I started directing newscasts at WEEK Peoria in 1976, I had no idea it would be the only job for which I would have to apply.”
After some missteps, the publicly traded Granite fell into bankruptcy in December 2006.
It emerged several months later as a private company in the control of Silver Point Capital, which had been one of the principal creditors.
Despite the company’s past troubles, Silver Point retained Cornwell as chairman and CEO and handed day-to-day responsibilities to Deushane.
In the spring of 2008, Lammers resigned as COO of the Nexstar Broadcasting Group and became an industry consultant. Among other things, he represented Granite in its retransmission consent negotiations.