financetom
Business
financetom
/
Business
/
Warner Bros names its first female CEO: BBC's Ann Sarnoff
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Warner Bros names its first female CEO: BBC's Ann Sarnoff
Jun 24, 2019 11:23 PM

BBC executive Ann Sarnoff was named chief of Warner Bros on Monday, making her the first woman to head the movie studio in its 96-year history. Her appointment follows the departure in March of Kevin Tsujihara, who stepped down after misconduct allegations.

Share Market Live

NSE

WarnerMedia chief executive John Stankey announced Sarnoff's hiring, concluding a three-month search for one of Hollywood's most prized posts.

Many had expected WarnerMedia to turn to an experienced film executive like movie-division head Toby Emmerich, who was part of the interim committee running the studio after Tsujihara's departure, Disney veteran Anne Sweeney or former Fox chief Stacey Snider.

But to surprise of much of the industry, WarnerMedia turned to Sarnoff, who has worked primarily in television. Sarnoff, who takes over as chief executive and chair of Warner Bros., is currently president of BBC Studios Americas. She has previously been a top TV executive at Viacom and with the WNBA.

"She brings a consistent and proven track record of innovation, creativity and business results to lead an incredibly successful studio to its next chapter of growth," said Stankey. "Ann has shown the ability to innovate and grow revenues and has embraced the evolution taking place in our industry."

In March, Tsujihara stepped down following claims that he promised roles to an actress with whom he was having an affair. Tsujihara, whose attorney denied that Tsujihara had any direct role in the woman's hiring, said he was departing to avoid being a distraction.

The rupture came at an awkward time for WarnerMedia, which has just expanded Tsujihara's role at the global conglomerate. AT&T last year acquired Time Warner Inc., which was renamed WarnerMedia, and the company is planning to a launch a streaming service later this year.

In Warner Bros., Sarnoff takes over one of the most storied studios in Hollywood. In recent years, the Walt Disney Co. has surpassed Warner Bros. as the market leader, sliding Warner Bros. to an increasingly distant second.

The studio this year has continued the turnaround of its DC Comics films with "Shazam!" though its big summer movie, "Godzilla: King of Monsters," has underperformed.

First Published:Jun 25, 2019 8:23 AM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Copyright 2023-2026 - www.financetom.com All Rights Reserved