Hulu Names Interim CEOFriday, March 15, 2013
Hulu has tapped Andy Forssell to fill in for Chief Executive Jason Kilar when he leaves the company later this month.
Forssell, who has been with the Santa Monica video streaming site since 2007, is now the company’s senior vice president of content. He will be interim chief executive until Hulu’s board decides on a replacement.
Kilar announced the news Thursday to employees and later posted his memo on the Hulu blog.
“Andy exemplifies the Hulu culture and has been central to Hulu’s journey, helping to grow this company from two content partners and no revenue to over 450 content partners and approximately $700 million in revenue in 2012,” Kilar wrote.
Hulu is a joint venture from Walt Disney Co., News Corp. and Comcast, which own the ABC, Fox and NBC networks.
Independent owner Providence Equity Partners sold its 10 percent stake in the company for $200 million in October last year. Kilar and other executives also sold their stakes at the time.
Kilar then announced in January that he would step down as chief executive during the first quarter.
In his memo to the staff on Thursday, Kilar said that Hulu’s owners will soon make a permanent decision about the company’s chief.
“Disney and News Corp. are currently finalizing their forward-looking plans with Hulu, and the senior team has been working closely with them in that process,” he wrote. “Once the plans are finalized, a permanent decision will be made regarding the CEO position.”