MD to exit in Endemol Shine Asia shake-up

The MD of Endemol Shine Group (ESG)’s Asian arm, Fotini Paraskakis, is to step down by mid-2018 as the culmination of the company’s restructuring in the region.

Fotini Paraskakis

Paraskakis is leaving the company to pursue a “new venture,” according to an email sent to staff by ESG CEO Sophie Turner Laing.

Paraskakis took up the role of MD of Endemol Shine Asia four years ago and has been credited with growing ESG’s business in the region, most recently overseeing the co-development partnership with South Korean media outfit JTBC.

Previously, she led ESG’s work developing The Society Game, its first original format through its partnership with CJ E&M.

As part of the restructure, which Paraskakis will steer before standing down, Endemol Shine Asia will form a dedicated regional format sales team in Singapore and Mumbai that will report to Cathy Payne, CEO of Endemol Shine International.

Turner Laing added that a creative networks team will pursue partnerships in Asia similar to the CJ E&M collaboration, while the company will focus on using its production operations in the region to better serve its Asian clients, rather than solely producing out of Singapore.

This will include “greater use of shared hubs for international formats, given these allow us to deliver world-class production value within budgets scaled to fit different-sized markets.”

“This new structure will play to Endemol Shine Asia’s principle strengths as the number one formats company in the region, while adopting a more international approach to producing for Asian platforms,” Paraskakis said.

“There is much to do over the coming months as we implement these changes, but once that process is complete, I will be ready for my next challenge, as there is so much untapped potential in the Asia market.”

Her impending departure is the second major loss to the company in Asia this month, following the resignation of Deepak Dhar, MD and CEO of Endemol Shine India. Abhishek Rege, chief operating office of Endemol Shine India, will become CEO.