Mark and Carl Fennessy have announced they will step down as CEOs of Shine Australia later this year.
The surprise announcement comes after negotiation with Endemol Shine Group regarding the pair’s future after their existing contract expires.
It was decided the duo will fulfil their executive duties on the current slate of programming before leaving.
In a statement released to the media, Mark and Carl Fennessy said: “We have loved our time at Shine and remain immensely proud of the business we have built. We sincerely thank our brilliant, loyal and dedicated team who have worked beside us every day on this extraordinary journey. We wish the Endemol Shine Group every success in the future and look forward to a welcome break ahead of our next adventure”.
CEO, Endemol Shine Group, Sophie Turner Laing said: “Mark and Carl have built Shine Australia into a great business for which they deserve much credit, but I understand and am respectful of their decision to move on at this juncture. They truly deserve a break before deciding what their longer-term future holds and we wish them the best for whatever that may be. We continue to explore the best way for two talented, brilliant teams in Australia to come together, the plans for which we look forward to announcing in the forthcoming months.”
Going forward, Endemol Shine Group plans to create a combined Shine and Endemol business within Australia from later this year, though in the meantime both businesses will continue to operate independently.
The structure, leadership and start date of the new entity will be announced in due course further to the on-going consultative process led by Martha Brass, Co-CEO International Operations, Endemol Shine Group, being completed.