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DCD overhauls top management as Nourmand steps down

DCD overhauls top management as Nourmand steps down
News
Tim Dams
30 October 2012

Sammy Nourmand is stepping down as CEO of DCD Media, and will leave the company at the end of the year.

David Green is also stepping down as chairman of DCD, but will remain on the board.

It’s the latest in an ongoing series of management changes at the production outfit, which owns indies Prospect Pictures and September Films and holds stakes in Matchlight and Rize USA and took over post outfit Sequence this year. Its TV credits include Penn&Teller: Fool Us, Bridezillas and Misbehaving Mums to Be. Nourmand was promoted to chief executive in February this year, after running September Films.

DCD will now be run by executives from Timeweave, the investment vehicle that has built up a 49.99% stake in the production company this year.

Richard McGuire, chairman of Timeweave, has been appointed as DCD's non-executive chairman.
 
Timeweave CEO, David Craven, has been appointed as DCD's new CEO. Craven, whose appointment takes effect today, has previously held senior roles with News Corporation, UPC Media and Trinity Newspapers.

DCD said it would now reposition to “focus on the significant revenue and growth potential of the North American TV production market”.
 
The board of DCD said it would like to thank Nourmand for his significant contribution to both September Films and DCD.

DCD said Green would focus on “building a strong creative team committed to developing new landmark productions in the USA on a full-time basis.”
 
He commented: "I am absolutely delighted that our major shareholders have recognised the massive opportunity for growth in the US market. DCD has a hugely impressive track record and a peerless reputation in the US; we can and will build on this."
 
Craven commented: "DCD Media is committed to its US expansion programme. We are delighted that David, strongly supported by LA managing director Pamela Covais, will be focusing all of his time and efforts on the expanding US market."
 
The company added that it had secured a new commission with an expected gross revenue value of £4.25 million and that further details would be released in due course.

DCD Media came 14th in Televisual’s Production 100 survey of the UK’s top independent production companies this year, with revenues of £29.9m.
 

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