As part of its long-term planning, 21st Century Fox (NASDAQ: FOXA, FOX) today announced its leadership succession plan for its film studio Twentieth Century Fox Film. Longtime executive Jim Gianopulos, the Chairman and CEO of Twentieth Century Fox Film, will step down from his current post at the end of his contract term on June 30, 2017. At that time, Stacey Snider, who currently serves as the film studio’s Co-Chairman, will lead the studio as Chairman and CEO.
Mr. Gianopulos has agreed to continue with the Company upon the close of his current contract in 2017 and will then take on a new strategic role, continuing to report to Lachlan Murdoch and James Murdoch, 21st Century Fox’s Executive Chairman, and CEO, respectively.
Lachlan Murdoch and James Murdoch commented:
“Jim has played an integral role in growing our global film business into the powerhouse it is today. We’ve benefited tremendously from his creative insights, his vast knowledge of international markets, and from his unique understanding of the technologies shaping our future. We look forward to continuing to work with Jim in a new strategic capacity after the close of his current contract term.”
Rupert Murdoch, Executive Chairman of 21st Century Fox added: “I have worked closely with Jim over the past twenty-five years and consider him a close confidant. Jim has delivered year after year, with films that truly soared, spanning Titanic, Avatar, and most recently the wildly successful Deadpool. I’m confident that his passion for movies and the business of film will carry through to our next generation of management and am convinced that his decades-long leadership has positioned us for continued future success. I am so pleased Jim has agreed to stay on in a new role and have the utmost confidence in the future of the studio under Stacey’s leadership.”
“I’m looking forward to this final year of an amazing 25-year journey at the studio, and to exciting new adventures,” said Jim Gianopulos. “This is an incredible place to work, with brilliant professionals and talented filmmakers, and I know when I turn the keys over, Stacey and the great team here will continue its historic legacy with future successes. I’m grateful to all my wonderful colleagues, past and present, and, especially, to Rupert, Lachlan, and James for all their support and I look forward to working with them in the years to come.”
Lachlan and James continued: "Succession planning is hard, and in a creative enterprise like Twentieth Century Fox Film, we are very cognizant of how tricky this can be. We are enormously grateful to Jim for his approach to this challenge, and to Stacey, who joined us a few years ago as part of this process, and who in a year's time will assume his leadership position at the Studio. It goes without saying that Fox is broader than that, and we are fortunate to have an incredible team. Emma Watts, Steve Gilula, Nancy Utley, Vanessa Morrison, Elizabeth Gabler and Tomas Jegeus and so many other talented executives throughout the organization make this studio what it is. We are all super excited about our future together, and what we can achieve.”
About 21st Century Fox
21st Century Fox is the world's premier portfolio of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe. Reaching more than 1.8 billion subscribers in approximately 50 local languages every day, 21st Century Fox is home to a global portfolio of cable and broadcasting networks and properties, including FOX, FX, FXX, FXM, FS1, Fox News Channel, Fox Business Network, FOX Sports, Fox Sports Network, National Geographic Channels, STAR India, 28 local television stations in the U.S. and more than 300 international channels; film studio Twentieth Century Fox Film; and television production studios Twentieth Century Fox Television and a 50% ownership interest in Endemol Shine Group. The Company also holds a 39.1% ownership interest in Sky, Europe’s leading entertainment company, which serves 21 million customers across five countries. For more information about 21st Century Fox, please visit www.21CF.com.
21st Century Fox
Julie Henderson, 310-369-0773
Nathaniel Brown, 212-852-7746
Twentieth Century Fox Film
Chris Petrikin, 310-369-4781
Source : businesswire.com