- Push-out Score determined
- After 26 years in the position
- Praise and thanks for Sapan
- Matt Blank taking over temporarily
- Search for a successor
- Sapan will remain as executive vice chairman at AMC Networks
- Sapan said 93 words
(exechange) — New York, August 24, 2021 — Josh Sapan, chief executive of AMC Networks, leaves his position. As announced by AMC Networks Inc. in a news release and in a regulatory filing published on Tuesday, August 24, 2021, Joshua W. (Josh) Sapan leaves his post as chief executive officer at the media company, after 26 years in the role, effective September 8, 2021.
It is the end of an era.
The announcement of Josh Sapan’s move comes 11 months after James L. Dolan took over as Chairman of AMC Networks Inc.
AMC Networks will undertake a search for a successor.
Josh Sapan’s duties as CEO will be taken over temporarily by Matthew (Matt) Blank, a former chairman and chief executive officer at Showtime Networks, as interim chief executive officer.
The fact that Josh Sapan’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
Josh Sapan’s move coincides with a management shake-up also involving the position of Executive Vice President and Chief Accounting Officer.
“Accelerate our streaming goals”
AMC Networks did not give an explicit reason for Josh Sapan’s departure from the CEO post. Sapan said: “There has perhaps been no more exciting time for the company than right now and, as executive vice chairman, I look forward to continuing to work with the outstanding team at AMC Networks, as well as Matt, my great colleague and friend, to focus on how we maximize our unique content to accelerate our streaming goals.”
Sapan will remain as executive vice chairman at AMC Networks
“[F]ollowing a successful 26-year tenure as president and chief executive officer Josh Sapan has notified the company of his desire to transition to executive vice chairman,” AMC Networks said.
Share price decline since August 2018
The announcement follows a decline in AMC Networks Inc.’s share price of 19% since August 2018.
Chaired by James L. Dolan
James L. Dolan serves as AMC Networks Inc.’s Chairman.
Dolan also serves as the Company’s Non-Executive Chairman of the Board of Directors since September 2020. He is also Executive Chairman and Chief Executive Officer of Madison Square Garden Entertainment Corp. since November 2019; Executive Chairman of Madison Square Garden Sports Corp since March 2015; and Executive Chairman of MSG Networks Inc. since July 2015.
In the position of CEO since 1995
Josh Sapan has served as President and CEO of AMC Networks since March 9, 2011. Sapan has served as Chief Executive Officer of Rainbow Media Holdings LLC since 1995.
Sapan has served as Chief Operating Officer of Rainbow Media Holdings LLC from 1991 to 1995.
Sapan has served as President of AMC and Bravo from 1987 to 1991.
Sapan serves on the boards of the American Film Institute, NCTA – The Internet & Television Association, The Paley Center for Media, Museum of the Moving Image, the Public Theater, The New School, People for the American Way and WNYC – New York Public Radio.
Sapan is also a member of the Academy of Motion Picture Arts and Sciences Executive Branch.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Josh Sapan’s move on a scale of 0 to 10.
exechange reached out to AMC Networks and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 35.2021 ($).