AMC Networks Inc., the cable and streaming company behind hits like The Walking Dead franchise, announced on January 22, 2026, that Chief Financial Officer Patrick O’Connell will depart in March to pursue an opportunity outside the media sector. The move comes after more than three years at the helm of the company’s finances, during a period marked by cord-cutting pressures and efforts to bolster direct-to-consumer services.

O’Connell, who joined in August 2022 from e-commerce firm BRANDED, oversaw treasury, tax, accounting, financial planning, and investor relations for a portfolio including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, HIDIVE, and linear channels such as AMC, BBC America, IFC, SundanceTV, and We TV. He will stay through March and join the Q4 2025 and year-end earnings call to ensure a smooth handover, as the company begins its search for a successor, according to the official press release on AMC Networks’ site.

CEO Kristin Dolan praised O’Connell as a “trusted colleague and steady leader” whose decision “comes with our full support, and we wish him every success in this next chapter.” O’Connell responded, “I am grateful to the Dolan family, the Board and the Company’s leadership team for their support. It has been a privilege to work with such a talented organization. I am proud of what we accomplished together and am confident in the future of AMC Networks,” as quoted in The Hollywood Reporter.

O’Connell’s Path to AMC

Before AMC, O’Connell served as chief strategy officer at BRANDED, handling strategic planning, financing, and acquisitions. He spent years at CBS Corporation as executive vice president and head of corporate development, leading the CBS-Viacom merger and CBS Radio divestiture. Earlier, he logged 14 years at Goldman Sachs & Co., building expertise across finance, media, and e-commerce, per details in TheWrap.

His appointment followed turbulence: Christina Spade, his predecessor, rose from CFO to CEO in September 2022 but exited after less than three months amid layoffs and streaming growth shortfalls. O’Connell stepped in as AMC grappled with declining linear TV revenues, as recounted in Deadline.

Under O’Connell, AMC focused on “economic repair” in streaming. At TD Cowen’s 2023 conference, he advocated reducing content volume, emphasizing pricing power, and leveraging advertising, stating, “We were less drunk on the thesis of streaming über alles… With those three things over the next few years, we will get to something approaching an equilibrium,” reported by The Hollywood Reporter.

Financial Turnaround Underway

Recent quarters showed progress. Q3 2025 delivered net revenues of $562 million and diluted EPS of $1.38, with domestic streaming at $174 million. Earlier, Q2 2025 hit $600 million in revenue and $96 million in free cash flow, alongside $400 million in debt reduction, according to StockTitan.

In November 2023, amid Hollywood strikes, O’Connell noted minimal impact thanks to planning, though the company trimmed its full-year revenue outlook to $2.7 billion from $2.8 billion, as covered by CFO Dive. A September 2024 Charter deal renewed distribution for linear networks and AMC+.

AMC’s 2023 filings revealed CEO Kristin Dolan’s pay at $14.5 million, with O’Connell’s compensation rising to $2.3 million from $1.7 million, per Variety.

Market Reaction and Transition Risks

AMCX shares traded at $7.77 post-announcement, down 1.15%, above the 200-day moving average of $7.33, with volume at 487,419 versus a 20-day average of 402,633. Peers showed mixed results, signaling no broad sector selloff, via StockTitan.

On X, coverage was muted: TheDesk.net noted the departure, while Matthew Keys highlighted O’Connell’s earnings role. No successor hints emerged.

The exit raises questions for AMC’s debt management and streaming investments amid linear declines. With O’Connell’s March departure, the search—internal or external—will test Dolan’s team as Q4 results loom.

Broader Media Executive Shifts

AMC’s churn echoes industry patterns. Spade’s 2022 ouster triggered 20% U.S. layoffs, with Chairman James Dolan citing unmet streaming offsets for cord-cutting, as in Reuters. Similar moves hit MSG Sphere and others in Dolan’s empire.

O’Connell’s non-media move underscores finance talent eyeing stability beyond volatile entertainment. AMC must attract a CFO versed in hybrid models to sustain gains.

For insiders, the transition timing—post-Q4 call—minimizes disruption, but investor eyes will track the hire amid AMCX’s repositioning.