Vice confirmed Tuesday that Shane Smith was stepping down as CEO of the storied hipster media company he cofounded.
Nancy Dubuc during a MediaLink keynote event at the Consumer Electronics Show in January, when she was still president and CEO of A&E Networks.
She headed up A+E Networks as CEO - the third in the company's history - since 2013, overseeing a portfolio that included A&E, Lifetime, History, Lifetime Movies, FYI, Viceland, A+E Studios, A&E Indie Films, A+E Networks International and more.
Dubuc takes the reins from founder Shane Smith, who will become executive chairman and focus on strategic deals and content development.
"Why Nancy Dubuc? Simply put, because rarely in business do you get to work in a flawless partnership", Shane said. "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 need 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.
Smith went on to call Dubuc one of his "best friends and media heroes", referring to the duo as a "modern day Bonnie and Clyde".
Dubuc announced her departure from A+E on Monday, but she didn't initially confirm her move to Vice.
Dubuc, who was in contention for the top Amazon Studios job (which eventually went to NBC's Jennifer Salke), has clearly been eager to move to a digital company after almost 20 years at A+E Networks - having first started at History in 1999. Vice also produces news programming for HBO. The company apologized for running a "boys club" in December after the New York Times reported sexual-harassment allegations against some of its executives.
But company culture isn't Vice's only concern.
The company has also struggled financially since raising $450 million at a whopping $5.7 billion valuation in June. The company also recently missed its $805 million revenue target by $100 million. As a partner, she's helped grow VICELAND internationally and into the second fastest growing network in all of U.S. cable among our audience.
"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", Ms. Dubuc said in the statement. "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".