Vice Media Group announced its appointment of Bruce Dixon and Hozefa Lokhandwala as Co-CEOs Monday morning.
The pair shall assume their new roles effective immediately, according to a company statement.
“Hozefa and Bruce are incredibly experienced and deeply talented executives who enjoy the full trust of VICE’s leadership team and Board, and are the right individuals to lead VICE forward,” the VICE board said in a statement. “With their combined 10 years of experience at VICE, and their long commitment to the company’s brand, mission and operations, they’re perfectly positioned to guide the company through this next important stage of growth.”
Previously, Lokhandwala served as chief strategy officer at VMG since October 2018. Dixon became chief financial officer in 2021, coming from the role of CFO of Vice Studios.
“We’re both passionately committed to bringing the brand, business operations and creative spirit of VICE forward into the future, and we’re excited and grateful for this opportunity to continue to work closely with the Board and VMG’s exceptional management team,” Dixon and Lokhandwala said. “This is an era of trememdous chance for media companies, and VICE’s unique brand of news, entertainment and lifestyle content has never been more relevant. We look forward to building on its success as we chart the next exciting chapter for the company.”
Dubuc shared her decision with Vice staff in a memo Friday morning.
“I am proud to leave a Vice better than the one I joined,” she wrote. “Together we racked up incredible wins while tackling unprecedented macroeconomic headwinds caused by the pandemic, the war in the Ukraine, and the economy all which forced us to pivot, refocus and pivot again.”
Dubuc succeeded co-founder Shane Smith, and her departure comes as the digital outlet’s board looks to sell all or part of the company. Vice missed its $700 million revenue target for 2022 by $100 million, slashing jobs as a result.