U.K. TV Producer DCD Media Changes Top Executives, Focuses on North America
David Craven replaces Sammy Nourmand as CEO as the company looks to tap upside in the North American TV production market.
LONDON -- U.K. independent TV production powerhouse DCD Media said Tuesday that CEO Sammy Nourmand is leaving his post and departing the company at the end of the year as it focuses on opportunities in the North American TV production sector.
Richard McGuire, chairman of DCD's largest shareholder Timeweave and a DCD non-executive director, has been appointed as DCD's non-executive chairman, with Timeweave CEO David Craven also becoming DCD's new CEO.
The company will task a dedicated team, led by David Green who is stepping down as DCD chairman, with the strategic goal of "rapidly growing market share and enhancing its burgeoning U.S. business." Green will relinquish his corporate role to concentrate on capitalizing on the success of September Films, the company behind such shows as Bridezillas and Penn & Teller, Billy The Exterminator and Mall Cops: Mall of America.
DCD said that following a strategic analysis of its business, it is repositioning its operations "to address the significant revenue and growth potential of the North American TV production market."
Nourmand's exit was announced to the U.K. small-cap stock market with a note of thanks from the DCD board for "his significant contribution to both September Films and DCD."
Green will also aim to build a creative team committed to developing new landmark productions in the U.S. on a full-time basis while remaining an ex-officio executive director of the DCD Media board. Said Green: "I am absolutely delighted that our major shareholders have recognized the massive opportunity for growth in the U.S. market."
Craven said: "DCD Media is committed to its U.S. expansion program. We are delighted that David, strongly supported by LA managing director Pamela Covais, will be focusing all of his time and efforts on the expanding U.S. market."
Nourmand will pursue other interests.