Nancy Dubuc departs as CEO of Vice Media Group

Dubuc announced her resignation five years after joining Vice Media Group in 2018.

Nancy Dubuc, chief executive officer at Vice Media Group, has announced her resignation after five years at the helm of the media company.

In an internal memo sent to staff on Friday (Feb. 24), Dubuc (pictured) pointed to the anniversary of her five-year tenure approaching, and then added: “It is so difficult to share that I have made the decision to move onto the next chapter.”

Dubuc joined Vice Media Group as CEO in March 2018, the day after her departure as president and CEO of A+E Networks was made public. She had been with A+E for close to 20 years prior to moving to Vice Media.

At Vice, Dubuc took the CEO mantle from Shane Smith, who moved into the post of executive chairman. At the time, Smith said of the incoming CEO: “Why Nancy Dubuc? Simply put, because rarely in business do you get to work in a perfect partnership.” He also added that “she is better than me at everything.”

Before joining the fold, Dubuc had sat on the board of Vice via A+E’s content partnership with the youth-skewing mediaco, which included the joint venture channel Viceland (now Vice). A+E had taken a 10% ownership stock in Vice in 2014.

Dubuc took the CEO mantle at a time when Vice’s cachet with its target demo was being challenged from myriad outlets, particularly online. At the same time, the company was also recovering from a 2017 New York Times investigation that revealed that several settlements had been made with Vice employees who had made allegations of sexual harassment, and another had received a settlement after suing for defamation.

Dubuc’s exit as CEO comes shortly after Vice Media Group has reopened its search for a potential buyer. While the company had hired advisors to look into the sale of the company as a whole or its various units last year, the process has reportedly begun anew. Assets under the Vice Media Group umbrella include its content production and distribution divisions, prodco Pulse Films, creative agency Virtue, and multiple online brands, including Refinery29.

A statement from Vice’s board of directors concerning Dubuc reads: “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.”

Her departure was first reported by Deadline.

The full memo from Dubuc is below:

Dear Vice Media Group Team,

I am writing today with bittersweet news. It’s been an exhilarating five years since joining you at Vice, and I am incredibly proud of the important and long-lasting accomplishments we have made together. We have transformed this Company from a disparate brand to a fully formed, diversified media company complete with a thriving news organization hosting a collection of some of the most recognizable 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 [Vice co-founderSuroosh [Alvi] for their trust and the many board members and investors along the way. I will cheer you on from the side-lines.

Left foot, right foot.

Nancy

 

This story originally appeared in Realscreen

Photo by Brad Barket/Getty Images for Fast Company