AMC Networks said on Tuesday that CEO Christina Spade “has stepped down from her role” without giving details on the reason.
The news also came as a surprise as Spade had only taken over the role as of Sept. 9. A successor wasn’t immediately named.
“The AMC Networks board of directors is currently finalizing who it will name as a replacement, with an announcement to follow,” the company said on Tuesday though.
AMC Networks chairman James Dolan said: “We thank Christina for her contributions to the company in her CEO role and her earlier CFO role, and we wish her well in her future endeavors.”
A regulatory filing later on Tuesday morning added some color. “On November 28, 2022, Christina Spade stepped down from her role as chief executive officer of AMC Networks,” it said. “As a result, Ms. Spade will receive the severance benefits payable in accordance with the terms of her employment agreement, dated August 4, 2022, on a termination without ’cause’ or resignation for ‘good reason’ basis. The board of directors of the company is in the process of determining who it will name as the successor CEO of the company.”
Media and entertainment industry veteran Spade previously held senior roles at ViacomCBS (now known as Paramount Global), CBS Corp. and Showtime. AMC Networks had unveiled her in August as the successor for interim CEO Matt Blank who had replaced long-time boss Josh Sapan.
“I’m a fan of this company in every respect, its content, brands, and most importantly, its people and dynamic and inclusive culture,” Spade had said in August.
Patrick O’Connell, previously a senior executive at CBS Corp. and Goldman Sachs, at the time was named the company’s executive vp and CFO, reporting to Spade. “Patrick is a highly accomplished executive focused on delivering strong financial performance with a deep understanding of today’s media landscape opportunities,” Spade said at the time. “I know he’ll be instrumental in driving the business forward with his strong finance track record, entrepreneurial drive and collaborative approach.”
