It’s Official, Vice Media has brought on former A+E CEO Nancy Dubuc (pictured) to take over the role of CEO from Vice co-founder Shane Smith. Dubuc, who announced her departure from A+E Networks on Monday, has been a board member of Vice for several years and is a long time friend of Smith.
“We are a modern day Bonnie and Clyde and we are going to take all your money,” said Smith, who will stay on at the company as an executive chairman.
According to Smith, Dubuc taking over as CEO would allow him to concentrate on content and deals. Dubuc will put her efforts in helping the company hit revenue targets and turn a profit, which should help ease tension for investors who have been looking for an exit and frustrated by missed revenue targets.
Vice had been seeking an executive to help support Mr. Smith for some time, according to a report from The Wall Street Journal that cited people familiar with the matter. According to the news publication, Smith reached out to Ms. Dubuc a few weeks ago to begin talks about the job.
“Shane and the team at Vice have done what all of us aspire to do—build a brand and make content that people really care about,” Dubuc said in the statement. “Vice speaks to a generation that defines today’s cultural conversation, and the opportunity to partner with all of the incredibly creative people across the entire company was one of those rare moments in a career.”
Read Smith’s memo to staffers announcing the hiring below:
As many of you have read, I have been in discussions with my friend, my partner, and board member Nancy Dubuc, to join the VICE family and become my successor as CEO.
While we tried our damnedest to have everything signed, sealed and delivered before sharing it with you and with the rest of the world, we seemingly can’t take a crap in this town without it leaking to the press.
Of course, as the bellwether for the modern media age, we should be no stranger to the rumors and speculation.
Today we put this speculation to rest and turn our focus toward executing our growth plans to maintain our hegemonic place atop the new media landscape which, in turn, will give us the ability to control our own destiny.
As founders, we take pride in the fact that we built an institution with some level of permanence, and while VICE has a strong foundation for the future, we realize that we need help for the next phase of our growth. We need to surround ourselves with the right people so our company, and our thousands of employees globally, can flourish.
In looking for a professional CEO, we are in need of one who can master; the content world, the digital world, the business world, and who is at the same time an operator extraordinaire. These people are obviously few and far between, but I believe we have found the absolute best in class with Nancy.
Nancy and I have spent much time deliberating on the best way for us to partner up in a shared mission of maximizing the great potential this company holds. She believes in VICE, she believes in our mission, and she believes in all of you.