Ynon Kreiz is on his way out as president of Disney’s Maker Studios, and will be replaced by Courtney Holt, the company says today.

The change will take place on January 11. Holt, who had been Chief Strategy Officer, will have the title of EVP and Head of the digital video powerhouse, reporting to Disney Interactive President Jimmy Pitaro.

Prior to joining Maker in early 2012, Kreiz was CEO of Endemol Group, home of international franchises including Big Brother and Deal or No Deal. Disney committed $500 million for Maker in 2014 — with additional payouts if the company hit undisclosed financial targets.

But Maker fell short: Disney paid a little more than half of the $200 million it might have had to shell out in August if the studio had reached its goals. Chief Content Officer Erin McPherson and SVP of Marketing Jeremy Welt left in August.

Disney says that in its fiscal year that ended in early October, Maker’s revenue and net income “were not material.”

Pitaro credits Kreiz for helping Maker to “become the global leader in short-form entertainment.”

Before joining Maker, Holt was president of Myspace Music and an advisor to News Corp Digital. He also was EVP for Music at the MTV Networks Music & Logo Group.