Paramount Television Studios head Matt Thunell has set his new leadership team as the media giant undergoes its first round of sweeping layoffs under CEO David Ellison.
The new structure will include department heads in areas including creative, production, legal & business affairs and finance. Some functions, such as talent & casting and corporate, will be handled though Paramount Pictures.
“As we move forward in this new incarnation of Paramount Television Studios, we must make changes to position our business for growth and success,” Thunell said in a memo to staff obtained by TheWrap. “To do that, we’re evolving our organization to better serve creators, audiences, and partners around the world through a new, streamlined structure. ”
Skydance physical production executive vice president Drew Brown will serve as PTVS’ head or production, reporting directly to Thunell. He will replace MTV Entertainment Studios/Showtime global production head Keri Flint, who is exiting the company.
Shelley Zimmerman and Carolyn Harris will continue in their roles as head of development and current, respectively, and will continue to report to Thunell. MTV Entertainment Studios/Showtime president Keith Cox will also continue to oversee PTVS’ lineup of shows from the Taylor Sheridan universe and report to Thunell.
Paramount Pictures chief operating officer Courtney Armstrong, chief financial officer Mark Badagliacca, human resources EVP Talia Robinson, and global communications and media relations EVP Brooke Robertson are expanding their purview to include PTVS. Skydance Television’s senior vice president of global communications and publicity Dawn Lach will also transition to PTVS, reporting to Robertson.
Moving forward, business affairs and legal affairs will operate as separate groups, with the former led by Showtime Business Affairs EVP Virginia Lazalde McPherson and the latter led by deputy general counsel and head of business & legal affairs Lance McPherson. As part of this change, Jeff Hegedus is stepping down from his role as Skydance’s executive vice president of TV Business & Legal Affairs.
Netflix’s vice president of Europe, Middle East and Africa content finance and strategy Mel Rauch will also join PTVS as head of finance. Skydance’s global head of production finance Arturo Reyes will transition to head of production finance, reporting to Rauch.
As part of this change, Paramount Media Networks/Showtime/MTV Entertainment Studios CFO Candice Brancazio and Financial Planning and Analysis SVP Matt Hengemuhle are exiting their their respective roles. Hengemuhle will transition to a new role in Paramount’s direct-to-consumer business and a new FP&A lead for PTVS will be announced soon.
Showtime/MTVE global talent and content development head Treavor Rose will exit his role for a leadership position in Paramount’s TV Media Group. As a result, Tricia Wood will expand her role as Paramount Pictures Casting EVP to add PTVS to her purview.
Nickelodeon and Awesomeness TV’s head of live action series, films and talent Shauna Phelan is also stepping down, but the company is in discussions about working with her as a producer on its titles.
The latest cuts are part of Paramount’s initial round of 1,000 layoffs that began on Wednesday, which are designed to help new owner Skydance exceed $2 billion in cost savings. More cuts are expected to come at a later date, which will impact roughly 2,000 employees total.
Thunell said the new structure would strengthen collaboration, streamline decision-making, and supercharge growth.
“In the coming weeks, we will continue the integration process, spending time on creative and business strategy under our new leadership team —more on that work soon,” Thunell’s memo concluded. “Finally, I want to take a moment to thank our colleagues who are transitioning out of their roles. They have each contributed enormously to our organization, and we are grateful for their leadership, partnership, and many achievements. Please join me in wishing them the very best. Thank you, as always, for your passion, resilience, and commitment. I cannot wait for all that we will accomplish together.”
As of the end of 2024, Paramount had approximately 18,600 employees globally across 32 countries and approximately 3,500 project-based staff. Meanwhile, Skydance has more than 500 employees, per its website.
In addition to the formal layoffs, Paramount will begin a phased return to office in January. Employees who decide not to return five days a week will be offered a severance package.