Viacom Announces Leadership Transition at Paramount Pictures
February 22 2017 - 3:38PM
Business Wire
Brad Grey to Step Down as Chairman and CEO
Viacom Inc. (NASDAQ: VIAB, VIA) today announced that Brad Grey
will step down from his role as Chairman and Chief Executive
Officer of Paramount Pictures. The company is commencing a
comprehensive search to identify a successor, and Grey will remain
at Paramount for a period to support the transition.
Bob Bakish, President and Chief Executive Officer of Viacom,
will work closely with Paramount’s leadership team, including Marc
Evans (President, Motion Picture Group); Andrew Gumpert (Chief
Operating Officer); Amy Powell (President, Paramount Television and
Digital Entertainment); Megan Colligan (President, Worldwide
Distribution and Marketing) and Mark Badagliacca (Chief Financial
Officer), to maintain momentum until a new CEO is appointed.
“Brad has overseen the production and distribution of some of
Paramount’s most celebrated hits, and more recently championed the
successful relaunch of the studio’s television division. We are
grateful for his 12 years of extraordinary service and wish him
every continued success,” said Bob Bakish. “Paramount has produced
some of the most recognizable and cherished films in Hollywood,
making it a key part of Viacom's history, and our future. As we
look ahead, I couldn't be more excited by our early plans to
reenergize the slate, more deeply integrate the studio and
networks, and make the most of our incredible assets.”
“It has been my privilege to be a part of Paramount’s storied
history, and I am grateful to Sumner Redstone for giving me this
opportunity. I want to wish Shari, Bob and their entire team the
best as they embark on Viacom’s next chapter,” said Brad Grey.
“From the moment I came to Paramount in 2005, I saw myself as a
steward of an iconic institution. In that time, it has been my
great honor to work with a group of wildly talented storytellers.
But above all, I am indebted to the wonderful people at this
studio, whose creativity, professionalism and integrity are second
to none.”
About Viacom
Viacom is home to premier global media brands that create
compelling television programs, motion pictures, short-form
content, apps, games, consumer products, social media experiences,
and other entertainment content for audiences in more than 180
countries. Viacom's media networks, including Nickelodeon, Comedy
Central, MTV, VH1, Spike, BET, CMT, TV Land, Nick at Nite, Nick
Jr., Logo, Nicktoons, TeenNick, Channel 5 (UK), Telefe (Argentina)
and Paramount Channel, reach over 3.9 billion cumulative television
subscribers worldwide. Paramount Pictures is a major global
producer and distributor of filmed entertainment.
For more information about Viacom and its businesses, visit
www.viacom.com. Keep up with Viacom news by following Viacom's blog
at blog.viacom.com and Twitter feed at www.twitter.com/viacom.
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version on businesswire.com: http://www.businesswire.com/news/home/20170222006504/en/
MediaViacom Inc.Jeremy Zweig,
212-846-7503jeremy@viacom.comorFinsbury, on behalf of ViacomSara
Evans, 646-805-2066sara.evans@finsbury.com
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