LOS ANGELES--(BUSINESS WIRE)--MGM Holdings Inc. (“MGM”) today announced that its Board of Directors has initiated a CEO transition and begun the search for a new chief executive officer for Metro Goldwyn Mayer Inc. to replace Gary Barber, who led the Company with distinction over the past eight years.
To facilitate uninterrupted execution on MGM’s strategic initiatives, the Board has temporarily formed an Office of the CEO to oversee the Company’s day-to-day operations during this period. The Office of the CEO will report directly to the Board and include a group of divisional heads and senior executives. It will have the active support of the Board of Directors, including members with extensive media and digital experience: Ann Mather, formerly of Pixar, Paramount Pictures and Disney; Fredric Reynolds, formerly of CBS and Viacom; Nancy Tellem, formerly of Microsoft/Xbox Studios and CBS; David Krane, CEO of Google Ventures; and James Dondero, CEO of Highland Capital Management.
“Over the past eight years, MGM has successfully built a world class company and talented team,” said Kevin Ulrich, Chairman of the Board of Directors. “With this transformation complete, MGM is uniquely positioned for exceptional future growth in the evolving entertainment landscape. Now is the right time to enable the next generation of leadership who can help drive the creativity, collaboration and partnership needed to continue the Company’s positive trajectory. Looking forward, we are committed to empowering our team to take charge, innovate and execute on the promising opportunities in front of MGM.”
Ulrich continued, “On behalf of MGM’s Board of Directors, I would like to thank Gary for his contributions and for leading MGM with the highest integrity over the last eight years. Gary has played a key role in the development and execution of our strategic plan, which laid an important foundation for MGM.”
MGM will provide a business update on its scheduled Q4 2017 Earnings Call on March 28th at 10:00 AM PT.
Metro-Goldwyn-Mayer (MGM) is a leading entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world’s deepest libraries of premium film and television content as well as the premium pay television network EPIX, which is available throughout the U.S. via cable, satellite, telco and digital distributors. In addition, MGM has investments in numerous other television channels, digital platforms and interactive ventures and is producing premium short-form content for distribution. For more information, visit www.mgm.com.