AMC Networks Names Hozefa Lokhandwala CFO

AMC Networks appointed Hozefa Lokhandwala as chief financial officer, effective immediately, the company said.

Lokhandwala takes the role at a time when the owner of cable channels including AMC and BBC America is working to stabilize its balance sheet after a string of debt-funded acquisitions and a prolonged decline in linear-advertising revenue. The media company did not provide details on the terms of the hire or the departure of the previous CFO.

His experience includes finance leadership roles across media and technology companies, the statement said, without naming specific employers. The appointment rounds out a management team that has seen several C-suite changes over the past two years as AMC Networks pivots toward streaming.

The stock has lost roughly three-quarters of its value since early 2021, hurt by cord-cutting and a weak ad market. The company’s next quarterly report is expected in November.

Lokhandwala will oversee capital allocation, debt management, and financial planning. His immediate priority, according to the company, is to continue reducing leverage while funding the streaming push.