Mark and Carl Fennessy will exit Endemol Shine Group later this year after deciding not to run the Australian wing of the global programming.
The pair, currently Shine Australia co-CEOs, will leave the business upon completion of their current contracts, which end mid-way through 2015.
This comes as Endemol Shine plans to merge the Shine Australia business the Fennessys launched five years ago with Endemol Australia, of which Janeen Faithfull remains chief executive officer.
Endemol Shine’s co-CEO, international operations, Martha Brass is currently engaged in a consultancy process that will end with a new structure, leadership team and star date. Endemol Australia and Shine Australia remain operating independently until that point.
It’s understood both brothers were on lucrative earn-out contracts, and that Endemol Shine was keen for them to re-up, but that they have turned down the opportunity to return to independent producing.
“Mark and Carl have built Shine Australia into a great business for which they deserve much credit, but I understand and am respectful of their decision to move on at this juncture,” said Endemol Shine CEO Sophie Turner Laing.
“They truly deserve a break before deciding what their longer-term future holds and we wish them the best for whatever that may be. We continue to explore the best way for two talented, brilliant teams in Australia to come together, the plans for which we look forward to announcing in the forthcoming months.”
The Fennessys joined Shine from FremantleMedia in 2010, taking the lucrative contract to produce MasterChef Australia with them.
“We have loved our time at Shine and remain immensely proud of the business we have built. We sincerely thank our brilliant, loyal and dedicated team who have worked beside us every day on this extraordinary journey,” they said in a statement.
“We wish the Endemol Shine Group every success in the future and look forward to a welcome break ahead of our next adventure”.
Their departure follows the announcement Gary Carter would leave his post as Brass’s co-international chief exec, also later this year.
Shina Australia has also seen executive chairman Rory Callaghan leave to join Banijay Group-owned Screentime as CEO.
Endemol Shine Group seeks $4bn sale https://t.co/ZgZYvCYgyk
20 June 2018 @ 12:15:00 UTC