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It’s official. Vice Media on Tuesday named Nancy Dubuc as the company’s new CEO, confirming earlier reports that Vice co-founder Shane Smith would cede his CEO role to the former A+E Networks chief.

Smith will transition into the role of executive chairman of Vice, where he will focus on strategic deals and content development.

The news comes one day after Dubuc announced she would be leaving A+E Networks effective April 16, after nearly 20 years with the company.    

Nancy Dubuc

“Why Nancy Dubuc? Simply put, because rarely in business do you get to work in a perfect partnership,” Shane said in a statement. “First off, she is better than me at everything. Second, it allows me to move to Executive Chairman, where I can concentrate on the only things that I am good at – content and deals. Thirdly, as we go forward Vice needs a best-in-class management team to harness all of this growth and control our own destiny, whether it be staying independent, strategically partnering with someone or going public. Lastly, I get to work with one of my best friends and media heroes. We are a modern day Bonnie and Clyde and we are going to take all your money.”

Dubuc has worked closely with Vice through a joint venture formed between the company and A+E  Networks that launched the cable network Viceland. She was also already a member of Vice’s board. Vice recently experienced some upheaval amid sexual harassment allegations from employees against executives, as well as accusations of a “boys club” culture. In February, Vice also reported disappointing earnings, missing its 2017 target by $100 million.

“Shane and the team at Vice have done what all of us aspire to do – build a brand and make content that people really care about,” Dubuc said. “Vice speaks to a generation that defines today’s cultural conversation, and the opportunity to partner with all of the incredibly creative people across the entire company was one of those rare moments in a career.”

 

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