James Baker, CEO of Red Arrow Studios, has decided to leave the production subsidiary of German media company ProSiebenSat.1 when his contract expires at the end of 2020.
Following his departure, ProSiebenSat.1 will install an advisory board at Red Arrow Studios, comprising Rainer Beaujean, Chairman of the Executive Board and CFO of ProSiebenSat.1, Wolfgang Link, Member of the Board and CEO of SevenOne Entertainment, and Henrik Pabst, Chief Content Officer of SevenOne Entertainment.
The existing Red Arrow Studios management team will report directly to the new advisory board. This new structure underlines ProSiebenSat.1’s strategy to focus on local and live entertainment in Germany, Austria and Switzerland in close cooperation with Red Arrow Studios, according to the company.
“Over the last 10 years James has developed and strengthened the operational performance of Red Arrow Studios – including an 18% growth in revenues in 2019 – and he has successfully driven the expansion of our German content ecosystem. We would like to thank him for his contribution to the business and wish him every success for the future,” said Beaujean.
Baker added: “I have greatly enjoyed the last 10 years at Red Arrow Studios, working with talented people and creating exciting content around the world. Red Arrow Studios is in the good hands of my senior leadership team, and I wish everyone the very best.”
No details were given on the reasons for Baker’s departure and his further occupation.