Vice Media announced on Monday that two co-chief executives had been named, turning to internal leaders to steer the company as it moves closer to a sale. Nancy Dubuc, who was the former CEO, had left the company the week before. This news follows a string of executive changes at various companies.
Thomas Bell, the former Boeing executive, was appointed the Chief Executive Officer at Leidos and is expected to take over duties on May 3. Goldman Sachs’ Group Inc.’s leaders take the stage this week, hoping to turn the page on a forgettable 2022. Stephanie Linnartz takes the helm of the sportswear company Under Armour on Monday, as the stock price has fallen by 30%.
The two executives at Vice Media are Rachel Miller and Morgan Hertzan. Miller is the president of global news and digital at Vice, while Hertzan is the executive vice president and general manager of the company. Both have been with the company for over ten years, and have been integral in guiding the company’s growth.
The two will be tasked with running the company until it is sold, which is expected to be completed in the next few months. They will also be responsible for guiding the company through the difficult times it has been experiencing. This includes decreasing viewership, falling ad revenues, and the loss of key executives.
The new executives have already begun to make changes to the company, including restructuring its content and streamlining its operations. They are also focusing on increasing the company’s presence in the international market. Additionally, they have been working to make the company more appealing to potential buyers.
The executives have also been working to cut costs and boost profits. This includes reducing headcount and streamlining operations. They are also looking for ways to create new revenue streams, such as selling content and merchandise.
Swedish telecom company Ericsson has warned that Europe’s industry structure is likely unsustainable, calling for consolidation across the region. Vice Media could serve as a key player in this consolidation, as it is one of the largest media companies in the world.
Vice Media’s new executives have their work cut out for them. While they have already begun to make changes, they will need to continue to find ways to make the company more attractive to potential buyers and to create new revenue streams.
