CEO

Mike Lang resigns as CEO of Miramax

Reuters News
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Posted: Mar 16, 2012 1:04 PM
Mike Lang resigns as CEO of Miramax

By Brent Lang

LOS ANGELES (TheWrap.com) - Mike Lang is stepping down as CEO of Miramax, the company said Friday.

Lang has agreed to remain a consultant to the company as it searches for a successor.

Steve Schoch, Miramax CFO, will serve as interim CEO until a replacement is named.

"We are very proud of what Miramax has accomplished in such a short period of time," Richard Nanula, chairman of Miramax and a principal at Colony Capital, said in a statement. "Mike has built a team of dedicated professionals, and they've worked together to create tremendous value."

Since taking the reins at Miramax, Lang has overseen distribution pacts for rights to such classic films as "Pulp Fiction" and "The English Patient." Hulu and Netflix are among the companies that have signed deals with the company in recent months.

Prior to joining Miramax, Lang spent six years at News Corp. He had been the executive vice president for business development and strategy, and played a key role in acquisitions including MySpace and Hulu.

He advised Nanula and a group of investors that included billionaire Ron Tutor in the run-up to their successful purchase of the independent film company in 2010.

The investors bought Miramax from the Walt Disney Company for slightly more than $600 million.

The purchase included the rights to more than 700 film titles at a company built by Harvey and Bob Weinstein and bought by Disney in the early 1990s.

(Editing by Chris Michaud)