LOS ANGELES, CA April 2, 2008 — Rick Sands, Chief Operating Officer of Metro-Goldwyn-Mayer Studios Inc. (MGM) since January 2006, today announced his departure from the studio in order to purse other opportunities in entertainment and content.
In line with the roadmap set forth by Harry E. Sloan, Chairman & Chief Executive Officer of MGM, Sands accomplished several key strategic goals for the studio. Sands’ contributions included the revitalization of a full service theatrical marketing and distribution infrastructure that allowed for the North American release of the studio’s films. To maximize MGM’s library assets Sands was also instrumental in establishing a home entertainment structure at Twentieth Century Fox, as well as developing the studio’s worldwide television sales and digital media divisions.
Sloan, commenting on Sands’ departure, said: “We appreciate Rick’s contributions in helping to revitalize MGM over these past two years. He has helped us to meet the formidable challenge of rebuilding MGM’s operations and securely positioned the studio with a strong foundation for continued growth and renewal. We wish Rick continued success in all of his future endeavors.”
Prior to joining MGM Sands served as President and Chief Operating Officer of DreamWorks SKG. Within Miramax Films he ultimately oversaw production, marketing and administration as Chief Operating Officer. He also served as Executive Vice President and Chief Financial Officer for Hallmark Entertainment where he was in charge of the company’s day-to-day financial, business and legal affairs activities. Sands began his entertainment career in 1978 at Columbia Pictures where he had a successful tenure as Vice President of Distribution.