Media marketing group Promax/BDA board members are expected to begin an executive search in the coming weeks to replace outgoing CEO Jim Chabin, who offered to resign last week.
The executive search for the CEO position will likely be finalized as early as the organization’s May MI6 conference or at the annual convention in June, with the goal of introducing the new CEO at one of those gatherings, according to sources at Promax/BDA.
The group quickly tapped Lee Hunt as interim managing director to oversee administrative duties of both organizations. However, sources close to Mr. Hunt say that he is not interested in a long-term position and will only bridge the gap until a CEO replacement is named.
Executives for the nonprofit agency met continually last week with an arbitration judge to review the contract with Mr. Chabin, who was placed on administrative leave earlier in the month. Mr. Chabin has offered to resign from his position following internal battles with the board over the direction of the company, particularly the addition of the MI6 conference.
MI6 is a game marketing conference designed to take the place of the diminished E3 gathering, which saw pullouts of major companies including Nintendo last year. MI6 is currently slated to be held in May, a month before the annual Promax/BDA convention, and some board members felt that the timing of the two gatherings would be difficult for Promax staff members to handle.
The judge’s decision and final departure of Mr. Chabin from Promax are expected to come down this week, with Mr. Chabin receiving a payout as part of his contract, which still has a year and a half left to go and pays more than $600,000 annually.
A spokesperson for Promax/BDA would not comment on the board’s meetings regarding Mr. Chabin’s departure.