Barely two months since they turned down the chance to run the Endemol Shine Group in Australia, Shine Australia CEOs Mark and Carl Fennessy have changed their minds.
The brothers have accepted the posts of joint CEOs of the merged companies after further discussion and considering their futures.
Martha Brass, CEO, International Operations, Endemol Shine Group, had been leading the search for a new CEO in Australia since the Fennessys unexpectedly turned down the offer in early April.
A firm of head-hunters had been engaged and a wide range of executives in the broadcasting and production industries had been interviewed in the past few weeks.
No timeline has yet been given for the integration of Shine and Endemol, which will result in the departure of Endemol CEO Janeen Faithfull.
Mark and Carl Fennessy said: “Since giving notice we have continued to work through a transition, producing our current slate of shows and assisting with a succession plan. Our pride in the local business coupled with a fierce loyalty towards our talented staff was always going to make departing difficult.
“They say a week's a long time in television – so after further discussion and consideration we've decided to accept the opportunity of managing the merged company. We're genuinely excited about being part of the next chapter for a combined Australian business within Endemol Shine Group."
Brass said, “Our conversations with Mark and Carl have been positive throughout, from our early discussions to their decision to take a break and then over the last couple of months as they helped us plan for new leaders for the combined business. I’d like to express heartfelt thanks to everyone involved in this process, which has been undertaken with great dedication and has undoubtedly produced the best outcome.”
The Fennessy brothers, who launched Shine Australia five years ago after being poached from FremantleMedia Australia, had been due to depart when their contracts expire later this year.
They had planned to take a break and it was widely expected they would then resume their careers as independent producers. The duo formed and led Crackerjack, which was acquired by FremantleMedia in 2003.