CEO Nancy Dubuc to step down as Vice Media explores strategic options

Vice Media Group’s CEO Nancy Dubuc is set to leave the company after five years.

Nancy Dubuc

Dubuc, who joined Vice Media in 2018 after previously serving as CEO of A+E Networks, revealed her departure in a memo to staff on Friday.

“We have transformed this company from a disparate brand to a fully formed, diversified media company complete with a thriving news organisation hosting a collection of some of the most recognisable consumer brands,” said the New York-based exec.

“Your commitment to excellence, progress and ethics is unparalleled and the relationships we have built are everlasting. Which is why as the anniversary of my tenure approaches, it is so difficult to share that I have made the decision to move on to the next chapter.”

Vice Media has not yet named a successor to Dubuc.

Her departure comes as Vice Media Group explores a range of strategic options, including being sold as a whole or in pieces, or raising additional financing. The company had been valued as high as US$5.7bn in 2017 but amid significant headwinds, including an advertising slowdown and contracting audience numbers, the company is reported to be valued at around US$1bn or less.

The company’s board of directors said: “Nancy joined Vice at a pivotal time and put in place an exceptional team that has positioned the company for long-term success. We thank Nancy for her many contributions and will soon announce new leadership to guide Vice forward into its next stage of growth and transformation.”

Dubuc joined Vice Media after 20 years with A+E Networks. At the time of her arrival, she replaced co-founder Shane Smith in the CEO position, with Smith becoming executive chairman.

Vice, which counts Smith, Disney, A&E Networks and TPG Capital among its owners, operates the Vice Studios television and film division, the Vice TV network, Vice News, online brand Vice.com and creative agency Virtue. Its portfolio of assets also includes Refinery 29, London-based Pulse Films and social media agency Carrot Creative.

Dubuc added: “Today Vice has an incredible opportunity in the hands of a new management team who are looking to harness the businesses we built and grew and to lay the groundwork for the future. I know you are among the most resilient, creative, and determined talent in the business and your futures are bright and hopeful.”