After just over three months as CFO and 13 years with the company, Bob Corzo is leaving New Regency. Today’s surprise move sees Mimi Tseng hired as the company’s new CFO. That makes the former Summit Entertainment’s EVP, Finance & Operations the third or fourth person to hold the CFO job in as many months depending how you look at it. Corzo was quietly moved into the CFO job soon after long time COO/CFO Louis Santor resigned on March 12 after 20 years with the company. At the time Jonathan Fisher was named as Santor’s successor. It seems the former Groundswell Productions president became COO but never actually CFO.
Insiders say that when Santor left, Corzo said he had been promised the CFO job. President/CEO Brad Weston and company chairman Arnon Milchan relented and, without ever correcting the Fisher announcement, handed the then VP and Controller the CFO gig. Though obviously not for long. Corzo, who the company says is transitioning out over the next few months, is just one of many to leave New Regency in the past year. So with all those revolving doors, the question is who’s coming or going next over there and is the clock already ticking for Tseng?
Besides Corzo and Santor, company chairman Bob Harper and Hutch Parker exited in late 2011 as Milchan, who owns 80% of the film and financing company, took direct control again and installed himself as Chairman. Milchan, who’s known to send out a mean-spirited email or two to staff, brought former Paramount production president Weston in as CEO in the fall of last year. Alexandra Milchan rejoined her father’s company as EVP Production in mid-September last year. Former Fox 2000 EVP Carla Hacken became New Regency’s production president in late November last year. Andrew Plotkin was named EVP Television earlier this month as the company relaunched their TV division.
This mean-mail from Arnon Milchan to his New Regency staff was all over the Twentieth Century Fox lot 2 weeks ago. (I received it, thought it was ridiculous, and can’t believe others are touting it – so here it is…) Fox film … Read More »
EXCLUSIVE: The Blind Side director John Lee Hancock has been set to write and direct The Partner, based on the John Grisham bestseller. The project is set up at New Regency, whose principal, Arnon Milchan, previously adapted the Grisham novels … Read More »
EXCLUSIVE: New Regency has signed a two-year first look producing deal with Len Wiseman and David Bernardi’s Sketch Films. The deal was made by New Regency CEO Brad Weston, whose mandate under Arnon Milchan is to turn New Regency into … Read More »
EXCLUSIVE: Longtime Fox 2000 EVP Carla Hacken is leaving the studio to become president of production for New Regency. It is the latest move in a restructuring of the company since Arnon Milchan reemerged as an active chairman and installed … Read More »
EXCLUSIVE: New Regency today acquired rights to turn the Jim Henson series Fraggle Rock into a feature film. The property was shopped and caught the interest of studios, before New Regency made the deal for a film that will be … Read More »
EXCLUSIVE: In one of its first moves since Brad Weston was named CEO and Arnon Milchan reinserted himself as the active head of the company, New Regency has come aboard the producing roster of Broken City, the Allen Hughes-directed drama … Read More »
After Arnon Milchan reconstituted New Regency with a new $500 million credit line and plans to reemerge at the helm with former Paramount production president Brad Weston as CEO, Alexandra Milchan has returned to the company as executive vice … Read More »
EXCLUSIVE: Hours after Deadline revealed the impending exit of New Regency chairmen Bob Harper and Hutch Parker, I’m told that former Paramount Pictures production president Brad Weston is in deep negotiations to run the production/financing company as president/CEO. That … Read More »
EXCLUSIVE: A major shake up is taking place at Arnon Milchan’s New Regency. Co-chairmen Bob Harper and Hutch Parker will not renew their contracts when they expire in December. I’ve confirmed with Harper that he and Parker are negotiating their exits. There had recently been a ripple of rumors about this, and there will be the inevitable speculation over whether the duo are jumping before being pushed. Harper didn’t get into that, but said that he was confirming because he and Parker were aware of the rumors and were most concerned with reassuring filmmakers with Regency projects that the duo would continue to be closely involved and see those films through to release. Harper also said the decision came after months of conversations with Milchan over whether or not to renew. Recently, they came to the conclusion that this was the best course. Milchan could conceivably name a replacement quickly, but Harper told me that he and Parker will continue to see through the completed films as well as some of the projects that are gearing up for production starts, regardless of how quickly the succession takes place.
Harper had been in the job for four years (he moved from the post of vice chairman of Fox Filmed Entertainment and has worked for Fox since 1986), and Parker had been in the post for more than three years (he moved over from the post of 20th Century Fox vice chairman, and had been with the studio 13 years when he took the job). They have been involved in every facet of New Regency films, including production, marketing, distribution and administering the library. Harper said it is unclear what will happen next year, and that he and Harper haven’t solidified their plans. I wouldn’t be surprised if they remain on the Fox lot as producers or in some other capacity. Read More »