Jason Kilar was named WarnerMedia CEO on May 1st. Now, two months after HBO Max was launched talks of consolidation, layoffs and future restructuring are made. Read more below.
Kilar recently announced that Bob Greenblatt, Chairman at WarnerMedia Entertainment would be stepping down. Also leaving are Kevin Reilly, Chief Content Officer at HBO Max and president to TNT, TBS, and truTV; as well as Keith Cocozza, EVP (employee value proposition) of Corporate Marketing and Communications.
While no other layoffs were announced, Kilar said reductions will happen. "I don’t have any numbers or any specifics to share with you to that effect other than to say, we are going to be thoughtful, we are going to be kind, we are going to be empathetic".
Promotions within the company include Warner Bros Chairwoman and CEO Ann Sarnoff, who will be leading a newly created Studios and Networks Group, adding HBO, HBO Max, TNT, TBS and TruTV to her existing portfolio.
The CEO is excited about the future and how they are reorganizing the company, however, he admits it's one of the hardest things to do and it makes him sad to "Say goodbye to beloved and incredibly talented colleagues which is clearly the case of Bob and Kevin and Keith is how I feel. They are some of the most talented executives in the industry. I know they are going to change the world, and I’m going to root for them every step of the way.”
Some of the changes we can expect to see in the multinational conglomerate will be a more a consumer-oriented company as opposed to a wholesale oriented. "This is about going global" said Kilar. The company currently has about a third of their revenue outside of the US. The new CEO believes they could reach a 70% of their revenue from outside of the US and have 70% of the consumers they serve outside of the US.