ProSiebenSat.1 has announced that the current management contract of Red Arrow Studios CEO James Baker, which runs until the end of 2020, will not be renewed, as after 10 years with the business James has decided to leave Red Arrow Studios when his contract concludes.
Following his departure, ProSiebenSat.1 will install an advisory board at Red Arrow Studios, comprising of Rainer Beaujean, Chairman of the Executive Board & CFO of ProSiebenSat.1 Media SE, Wolfgang Link, Member of the Board & CEO SevenOne Entertainment, and Henrik Pabst, Chief Content Officer 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.
Rainer Beaujean: “Red Arrow Studios is a successful international content production and distribution company, and therefore an important part of ProSiebenSat.1. 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.”
James Baker: “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.”