Ynon Kreiz who was appointed as the executive chairman and CEO in 2013, is on his way out as president of Disney’s Maker Studios and will be replaced by Courtney Holt.
Before becoming the CEO, Kreiz invested in Maker as non-executive chairman in May 2012 and later became the executive chairman and CEO in 2013. And in less than a year, he rode a surge of interest in digital media businesses to a $500 million sale to Disney, the largest in the online video space, that could have ballooned to $950 million million if Maker had met certain performance targets.
As for Courtney Holt, he had been Chief Strategy Officer, and from 11 January, he will have the title of EVP and Head of the digital video powerhouse reporting to Disney Interactive President Jimmy Pitaro.
“We are pleased that Courtney Holt has agreed to take on an expanded role leading Maker Studios as we continue to explore new ways to leverage Maker’s unique capabilities across The Walt Disney Company,” said Pitaro. “We also want to thank Ynon Kreiz, who in just three short years helped Maker Studios become the global leader in short-form entertainment. We appreciate his leadership during this critical time.”
In August, Chief Content Officer Erin McPherson and SVP of Marketing Jeremy Welt too quit the company. Disney says that in its fiscal year that ended in early October, Maker’s revenue and net income “were not material.”
Prior to joining Maker in early 2012, Kreiz was CEO of Endemol Group, home of international franchises including Big Brother and Deal or No Deal, whereas Holt was president of Myspace Music and an advisor to News Corp Digital. He also was EVP for Music at the MTV Networks Music and Logo Group.