CMT president resigning from role after 16 years

Philips had been serving as president of the TV network since 2001.

The company says it has just recorded its highest-rated fiscal quarter since 2014. The TV network airs shows such as "Nashville," "Still The King" and "I Love Kellie Pickler."

Philips shared the news in this memo to his staff:

Today I'm writing to share the news that I've decided to step down as President of CMT.

For some time, I've been contemplating a change (more on that soon), but agreed to stay to help navigate through the recent exciting "brand renewal". This was a tough decision; I remain a fan and champion of each of you. I love, live and breathe this brand. Change is difficult, especially after all we've endured together! Fortunately, we have the best senior staff team in place in our history, and I am confident they will continue the remarkable work we've done together.

I cherish the time I've spent here with you over the last 16 years. I joined CMT as an ambitious-but-unenlightened wayward radio character. I had the early good fortune to learn from masters of the medium, the creative firebrands who built the glorious MTV Networks group. Later, learning from Nickelodeon's geniuses was another invaluable experience. I'm glad I don't have to list my many brilliant mentors here. They are known to all, of course, their names are legend.

Most of all, I learned so much about TV from you, my awe at your abilities has simply never ceased. We at CMT grew up together and I'm forever changed and made better by each of you. I think of the early days when we worked from a shelled-out Opryland building on a dime-store budget, a small country music video jukebox in a town nobody wanted to visit. Fast forward to today, Nashville is one of the most vibrant cities in the world. CMT has forged its place in this dazzling new environment, all while remaining true to the brand promise.

I leave you as CMT enters what we all believe will be a very strong era. Ratings are up across all dayparts, driving more than 7 months of year-over-year growth. We've attracted new fans and advertisers with "Nashville" and successfully converted them to regular CMT viewership. Our creative resurgence continues and the channel looks better than ever! Recent CMT Music Awards and Crossroads have been widely acclaimed as two of the very best we've ever done. Our summer line-up of originals is solid, and we're developing some innovative new series that will ensure our future.

I'll be sticking around awhile to help with the transition and look forward to personal time with you. I will swing through NY and Hollywood offices to further express my gratitude. Your friendship and kindness mean the world to me, and all of the outrageous fun and laughter we've shared will be what I remember most fondly. Keep the faith.

More soon, but I wanted you to hear this first from me. Have a great holiday weekend!

Philips received several awards and honors during his time at CMT, including being named to Billboard's Nashville Top 50 Power Players List, and is a member of the board of directors for the County Music Association.

The company has not yet announced who will fill take Philips' position as president.