Sir Charles Allen, commenting on behalf of the Board, said: “Just brings a stellar track record of success. With his knowledge, skills and experience, he is in an excellent position to drive the continued success of the business. In his previous responsibilities Just has proven to be world class, continuously outperforming and delivering excellent results. Without the constraints of an onerous capital structure and supported by a new executive team that he will assemble, he is well positioned to pursue further growth.”
Just Spee joined Endemol as CFO in 2010, and since June 2011 has effectively been managing the company alongside former Group President Marco Bassetti whose departure was announced yesterday.
During this period the business has outperformed budgeted EBITDA, delivering year on year revenue growth of 10% to nearly 1.4 billion Euros in spite of a challenging market. At the same time the company made decisive steps towards a successful capital restructuring and is now in the final stages of this process.
Just Spee comments: “I very much look forward to taking on this role at an extremely exciting time for Endemol. This is an exceptional company with a unique platform and some of the most talented and creative people in the business. I look forward to establishing a strong executive team that will drive the business forward. This, alongside an agreement in place with lenders that will put the company on a firm financial footing, strongly positions us for a bright future.”
Endemol is performing strongly in terms of growth, profitability and creativity with a market leading business spanning formats, scripted programming, distribution, digital media and brands.
The company’s growth in 2011 has been driven by a number of factors including significant expansion in scripted programming, where year on year growth was 34%. Across the year the company produced 189 formats in all entertainment genres, 56 of which were new shows produced for the first time, whilst its global distribution operation added 1,000 hours of new programming to its catalogue, bringing the total to 24,000 hours.
Other factors included growth in emerging markets, and continued success for established formats such as The Money Drop and Big Brother, which aired in 87 countries in 2011.