The board has appointed Marco Bassetti, group president, and Just Spee, group chief financial officer, to manage the business on an interim basis. In addition, Charles Allen, a non-executive director of Endemol, has been appointed to coordinate key actions and decisions with the Board.
The local operations will continue to operate as normal under the direction and leadership of their local managing directors, who will now report jointly to Bassetti and Spee until a new chief executive is appointed.
Bassetti has been with Endemol since 1997, and served two years as chief operating officer beginning in 2007. Spee joined Endemol in 2010 and has been responsible for implementing a wide range of major improvements to the Group's management systems. Allen joined Endemol as a non-executive director in 2009. He has had over 20 years experience in the media industry.
Commenting on behalf of the Board, Allen says: "Kreiz has managed Endemol through an extremely challenging economic environment. The Group is in a strong position to achieve future growth and we thank Ynon for his leadership over the past 3 years and wish him well for the future. A committee of the Board has been formed and already initiated a search for Ynon's replacement. In the interim, Marco and Just, who together represent a potent blend of financial and operating experience, are well placed to keep the Group on a safe path. They will be supported by a strong team around the world, all of whom have been integral in building Endemol into the global leader it is today."