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Univision’s Uva Stepping Down As CEO

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Joe Uva, the media buying veteran who became CEO and president of Spanish language media network Univision Communications four years ago, is stepping down next month. He did not publicly give a reason for his coming departure, but the company says that he has informed the board that he has chosen not to renew his employment agreement in order to be able to seek “other opportunities.”

Uva previously held the CEO post of Omnicom’s OMD media buying unit. Univision will start the search for a new CEO immediately.

Two months ago, Randy Falco, the former AOL (NYSE: AOL) chairman and CEO who was replaced by replaced by Tim Armstrong in the spring of ’09, was tapped by Univision to serve as its EVP/COO, reporting to Uva.