IM Global boss Stuart Ford exits

The founder and CEO of US producer and distributor IM Global is leaving the company after reportedly disagreeing with shareholders.

Stuart Ford

Stuart Ford founded IM Global a decade ago and the company has since become a key player in movie financing. More recently, it has expanded into TV production and distribution.

Ford’s exit comes after IM Global sold a stake to Tang Media Partners (TMP) last year, handing the US and Chinese finance firm a 60% stake in the company.

His departure reportedly follows disagreements with shareholders about the firm’s strategy.

TMP has now appointed former Lionsgate Motion Picture Group chairman Rob Friedman as chairman and CEO of newly formed division TMP Entertainment.

Friedman’s remit covers oversight of TMP’s entertainment divisions including IM Global, IM Global Television and movie outfit Open Road Films, which TMP acquired earlier this week. He reports to TMP chairman and CEO Donald Tang.

IM Global has been expanding rapidly over recent months, agreeing a production joint venture with Chinese tech giant Tencent as part of that strategy.

It has also launched an unscripted division led by veteran content creator Phil Gurin, hired Academy Award-winning producer Greg Shapiro as president of feature film production and added Mark Stern as president of IM Global Television.

Its slate includes dramas such as Cat’s Cradle at FX, Rebel on Amazon and Ice on AT&T’s Audience Network. It is also developing a drama based on Glen Cook’s fantasy book series The Black Company.

IM Global recently picked up two formats from Singapore-based prodco Imagine Group to launch internationally at MipTV, and has teamed with European video game developer Rebellion to bring the world of Judge Dredd to television.