February 24, 2023
Nancy Dubuc, CEO at Vice Media Group, has announced that she is leaving the media company after 5 years.
Dubuc, who was previously CEO of A+E Networks, was appointed Vice Media CEO in March 2018, replacing Vice co-founder Shane Smith who became Executive Chairman. The news of her departure comes as the board has launched a process to sell all or parts of the company, or find further investment.
In a memo to staff on February 24th, Dubuc said: “We have transformed this company from a disparate brand to a fully formed, diversified media company complete with a thriving news organisation hosting a collection of some of the most recognisable consumer brands. Your commitment to excellence, progress and ethics is unparalleled and the relationships we have built are everlasting. Which is why as the anniversary of my tenure approaches, it is so difficult to share that I have made the decision to move onto the next chapter.”
“I am proud to leave a Vice better than the one I joined. Together we racked up incredible wins while tackling unprecedented macroeconomic headwinds caused by the pandemic, the war in the Ukraine, and the economy all which forced us to pivot, refocus and pivot again. Despite all this the Vice, Vice Studios, Pulse, as well as Virtue, R29, i-D and Unbothered brands are strong. We reduced overhead by half and yet improved the quality of our revenues through both increased profitability and growth of returning revenues. As we face new headwinds in the marketplace Vice is now less ad dependent, and our gross margins have more than doubled. Most important, while there’s still much work to be done, Vice is a more diverse and inclusive environment than ever. Today Vice has an incredible opportunity in the hands of a new management team who are looking to harness the businesses we built and grew and to lay the groundwork for the future.”
I know you are among the most resilient, creative, and determined talent in the business and your futures are bright and hopeful. Remember what I try to remind you, and that is to appreciate how far you’ve come. The accomplishments are far and wide— from new businesses, completely rebuilt operations and countless awards for brave work. But also remember to look ahead to the possibilities. I’d also like to thank Shane and Suroosh for their trust and the many board members and investors along the way. I will cheer you from the side-lines,” Dubuc concluded.
A statement from the Vice Media Group board of directors said: “Nancy joined Vice at a pivotal time and put in place an exceptional team that has positioned the company for long-term success. We thank Nancy for her many contributions and will soon announce new leadership to guide Vice forward into its next stage of growth and transformation.”