After just over three months as CFO and 13 years with the company, Bob Corzo is leaving New Regency. Today’s surprise move sees Mimi Tseng hired as the company’s new CFO. That makes the former Summit Entertainment’s EVP, Finance & Operations the third or fourth person to hold the CFO job in as many months depending how you look at it. Corzo was quietly moved into the CFO job soon after long time COO/CFO Louis Santor resigned on March 12 after 20 years with the company. At the time Jonathan Fisher was named as Santor’s successor. It seems the former Groundswell Productions president became COO but never actually CFO.
Insiders say that when Santor left, Corzo said he had been promised the CFO job. President/CEO Brad Weston and company chairman Arnon Milchan relented and, without ever correcting the Fisher announcement, handed the then VP and Controller the CFO gig. Though obviously not for long. Corzo, who the company says is transitioning out over the next few months, is just one of many to leave New Regency in the past year. So with all those revolving doors, the question is who’s coming or going next over there and is the clock already ticking for Tseng?
Besides Corzo and Santor, company chairman Bob Harper and Hutch Parker exited in late 2011 as Milchan, who owns 80% of the film and financing company, took direct control again and installed himself as Chairman. Milchan, who’s known to send out a mean-spirited email or two to staff, brought former Paramount production president Weston in as CEO in the fall of last year. Alexandra Milchan rejoined her father’s company as EVP Production in mid-September last year. Former Fox 2000 EVP Carla Hacken became New Regency’s production president in late November last year. Andrew Plotkin was named EVP Television earlier this month as the company relaunched their TV division.