Van Toffler, who has been with Viacom for 28 years, and who has served as president of the MTV Networks Music & Logo Group since March, 2008, is leaving the company, reports B&C.
Says B&C, “Toffler’s departure comes on the heels of a January earnings report from Viacom that failed to meet Wall Street expectations. Domestic ad revenue in the first quarter was down 6% and net earnings down 9% from a year ago.”
The B&C report, by Daniel Holloway, also says that “Toffler wrote [in an email to his staff] that he would be leaving to launch ‘a new platform agnostic content creation and acquisition’ company under the working title Below the Radar. He is slated to take his official leave of Viacom later this year.
“Viacom president and CEO Philippe Dauman, in his own message to staff, promised news about the forthcoming transition later this week. ‘With Van here to help and the deep bench of talented people across our brands, I am confident we won’t miss a beat,’ he wrote.”
To read all of the email Toffler wrote to his staff, we urge you to click here, which will take you to the original story written by Holloway.