Vice Media named two co-chief executives on Monday, turning to inner leaders to steer the corporate because it will get nearer to a sale.
Bruce Dixon, the corporate’s chief monetary officer, is being promoted to co-chief govt alongside Hozefa Lokhandwala, Vice’s chief technique officer, the corporate stated in a information launch.
Mr. Dixon and Mr. Lokhandwala exchange Nancy Dubuc, the previous chief govt of Vice, who resigned on Friday after almost 5 years within the position. When Ms. Dubuc succeeded Shane Smith, the corporate’s swashbuckling co-founder, in 2018, she was charged with addressing cultural issues on the firm and enhancing its funds prematurely of a sale.
“It is a pivotal time for our business and for Vice,” Mr. Dixon and Mr. Lokhandwala stated in a memo to workers. “Belief in conventional media has eroded, there are extra methods than ever for our audiences to eat our content material and income fashions are evolving sooner than ever.”
After years of on-again, off-again sale talks, Vice Media’s buyers are in search of a purchaser for the corporate.
It’s unclear who would run the corporate within the occasion of a sale. One individual with information of the gross sales course of stated the corporate would most probably discover a purchaser for some or all of its property — which embrace the Vice studio and the Advantage advert company — someday inside the subsequent 60 days.
Earlier than becoming a member of Vice, Mr. Dixon held govt positions on the BBC and Central European Media Enterprises, a TV broadcaster that operates in Bulgaria, Croatia, the Czech Republic and different areas. He turned the chief monetary officer of Vice Media Group in 2021.
Mr. Lokhandwala labored as an funding banker at J.P. Morgan earlier than becoming a member of Vice in 2018. Of their notice to workers, Mr. Lokhandwala and Mr. Dixon known as consideration to Mr. Lokhandwala’s pop-culture bona fides, saying he has been a D.J. in New York Metropolis since he was 17.
