Ken Schapiro To Exit MGM

mgm__130913144151-200x137__131115203538Metro-Goldwyn-Mayer Inc.’s Chief Strategic Officer Ken Schapiro is exiting the studio at the end of this month after joining the company in 2011 as COO. He was a key figure at MGM in recent years, helping to guide the studio’s strategy, and was promoted in January to his current post. Analysts saw his promotion as a sign that MGM possibly was going public (which it indicated in 2012 was a distinct possibility). It’s not clear where that stands now. However MGM Chair Gary Barber did tell analysts recently in a conference call that he would continue to evaluate that and promises to do what’s best for the company. Schapiro has been involved in all of the company’s financials. He helped to structure debt and its $75M stock repurchase, helped coordinate MGM’s investments in new media and the 2012 divestiture of the company’s overseas channels, and oversaw MGM’s home video campaign for its 50th anniversary of the James Bond franchise. Before joining the studio, Schapiro co-founded investment management company Qualia Capital and was COO of Artisan Entertainment — helping to turn around the video distributor and merge it with Lionsgate. Schapiro said he was thankful to be part of the restructuring at MGM and was looking forward to another challenge. (more…)

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