Rick Sands Resigns As Chief Operating Officer Of MGM
April 3rd, 2008 | by admin |
It is being reported that Rick Sands has resigned from his MGM post as Chief Operating Officer.
No replacement has yet been assigned to his position, however MGM has named Mary Parent to take charge of MGM’s global film business, already giving her some of Sands’ responsibilities.
During his time as COO for the company Mr. Sands is responsible for the creation of a deal that resulted in 20th Century Fox agreeing to pay hundreds of millions of dollars a year to distribute the MGM library of film and television titles around the world.
In a statement, Mr. Sloan said Mr. Sands had “securely positioned the studio with a strong foundation for future growth and renewal.”
A reason for his sudden resignation is not known, but sources close to him say that it has nothing to do with the arrival of Parent.
