For Immediate Release
CONTACT: Della Cassia
Ken Banach Hired as Detroit Public TV's New CFO
DETROIT (June 30, 2015) – Ken Banach, formerly with Detroit-based James Group International, has been hired as Detroit Public Television’s (DPTV) new CFO. Banach replaces John Wenzel, who retired as DPTV’s CFO after 15 years of leading the station through various financial milestones including a capital campaign to help finance its current location in Wixom. The official hand off took place at DPTV’s Board of Directors meeting held last week whereby board chair, Thomas C. Shafer, thanked Wenzel for his years of great service to the organization and welcomed Banach as the new CFO.
"A strong financial base is critical to every successful non-profit. John did a tremendous in building our operation over his 15-plus years with Detroit Public Television," said DPTV’s President and CEO, Rich Homberg. "We can’t thank him enough for the systems, culture and foundation he built at DPTV."
Banach’s experience in the financial industry spans almost three decades and includes serving most recently as CFO of James Group International where he oversaw six operating units including planning, accounting, reporting, treasury, tax, and risk management, as well as leading the organization through several new business quotations and the launch of a new joint venture. Prior to that position, he served as Vice President and CFO of Dürr Ecoclean; Director of Finance, Corporate Secretary and Treasurer at Valenite LLC; and Controller at Visteon Corporation.
A CPA by trade, Banach holds an MBA from Eastern Michigan University and a bachelor’s degree with a major in accounting also from Eastern.
In his new role at DPTV, Banach will serve as a member of the Executive Management Team, sharing responsibility for leadership and development of the organization’s capabilities. He will oversee revenue development, risk management, budgeting, forecasting, and financial analysis, provide leadership and transparency to the strategic planning process and will act as a liaison to the Board of Trustees. He will also be responsible for leading all financial administration and business planning while ensuring the commitment of the organization to its mission, vision and values.
“In our search for a new CFO, we worked hard to find a leader who could help us to continue to build on our service to the Detroit. Ken stood out as someone who could continue to expand our strong, on-going operations and help us look for new opportunities for growth,” said Homberg. “We’re excited have him on board.”
About Detroit Public Television
Detroit Public Television (DPTV) is the non-commercial, viewer-supported PBS-member station watched by more than 1.5 million people in Detroit and Southeast Michigan and another 1.2 million people throughout Canada. DPTV also manages WRCJ 90.9 FM, Detroit's classical and jazz radio station, in collaboration with the license-holder, the Detroit Public Schools. The radio station is located in the Detroit School of Arts. DPTV is licensed to the Detroit Educational Television Foundation and governed by a volunteer board of trustees from the local business, civic, and cultural communities.