Amidst 800 global job cuts, Jarrod Villani departs from Paramount ANZ, leaving Beverly McGarvey to lead solo.
SMH reports Jarrod Villani has exited his leadership role at Paramount ANZ (Channel 10), The departure comes amid a broader initiative by Paramount to streamline its operations which includes the elimination of approximately 800 positions globally.
The cuts come as Paramount desperately seeks to boost its floundering share price ahead of a potential sale.
Villani, who has been with Paramount ANZ for three years, held the title of Executive Vice President, Chief Operating & Commercial Officer, and Regional Lead. His tenure began in early 2021, initially stepping into the role of Chief Operating And Commercial Officer. In 2023, he was elevated to serve as co-lead alongside Beverley McGarvey, who is the Executive Vice President, Chief Content Officer & Head of Paramount+, Paramount ANZ.
His responsibilities encompassed overseeing the commercial strategies and activities within both Australia and New Zealand. Following Villani’s departure, Beverley McGarvey is set to continue leading the operations in Australia as the singular head of Paramount ANZ.
A spokesperson for Paramount chose not to comment on the situation.
This leadership shift coincides with the recent announcement of job cuts within Paramount, affecting around 3% of its global workforce, including positions in Australia. These reductions are part of the company’s broader strategy to streamline operations and manage costs more effectively.
Maria Kyriacou, a key figure in Paramount‘s global executive team who played a crucial role in overseeing the Australian market from London, left the company in January. This departure followed an announcement by Bob Bakish, the global head of Paramount, indicating a strategic shift away from original international content towards a focus on Hollywood franchises and productions with broad global appeal, such as Mission Impossible, Top Gun, and Yellowstone.
An internal memo by Pam Kaufman, president and chief executive of Paramount‘s international markets, shared with the Australian staff, highlighted the rationale behind the job cuts, aiming at operational streamlining and cost reduction. This restructuring effort includes the integration of global reporting lines, as revealed by two senior network sources who preferred to remain anonymous due to the confidential nature of the strategy.
Paramount‘s portfolio includes ownership of the US television network CBS and the British network Channel 5, alongside its global production studio, underscoring the company’s significant footprint in the international media landscape.
SOURCE: SMH
