James Baker, current CEO of ProSiebenSat.1 production group Red Arrow Studios, will leave his post once his contract concludes at the end of 2020.
According to the parent company, Baker “decided to leave Red Arrow Studios when his contract concludes.”
After his departure, ProSiebenSat.1 will appoint an advisory board for the production group, comprised of Rainer Beaujean, chairman of the executive board and CFO of ProSiebenSat.1; Wolfgang Link, board member and CEO of SevenOne Entertainment; and Henrik Pabst, chief content officer for SevenOne Entertainment. The existing Red Arrow Studios management team will report to this board. The company says the new structure “underlines ProSiebenSat.1′s strategy to focus on local and live entertainment in Germany, Austria and Switzerland in close cooperation with Red Arrow Studios.”
The group is currently the parent of several U.S. prodcos, including Kinetic Content, 44 Blue Productions, Left/Right, Half Yard Productions, Karga Seven Pictures and Dorsey Pictures, as well as UK-based CPL Productions.
ProSiebenSat.1 recently ended a strategic review established to examine possibilities for a sale. The news follows departures at distribution arm Red Arrow Studios International, including Bo Stehmeier, who headed up the division but departed to return to Off the Fence, and according to reports, acquisitions EVP Alex Fraser.
Joel Denton was recently named as president of Red Arrow Studios International, marking his return to the company from a previous stint as MD of Red Arrow Studios’ UK operations.
“Over the last 10 years James has developed and strengthened the operational performance of Red Arrow Studios – including an 18% growth in revenues in 2019 – and he has successfully driven the expansion of our German content ecosystem,” said Beaujean in a statement. “We would like to thank him for his contribution to the business and wish him every success for the future.”
Added Baker: “I have greatly enjoyed the last 10 years at Red Arrow Studios, working with talented people and creating exciting content around the world.”