Kathy Savitt, Yahoo CMO will be leaving the struggling company to take up the role of president of digital with STX Entertainment.
After three years where she spearheaded numerous actions to put Yahoo back on track under the leadership of CEO Marissa Mayer, Kathy Savitt becomes the president of digital for one-year old STX Entertainment, largely known for wild ambitions.
As such, Savitt will switch to spearheading the ambitious projects that STX Entertainment has in terms of global digital strategy. Producing, distributing and marketing the feature films under the aegis of the young company is the main task of the former Yahoo CMO. Digital content, as well as television programs are lined out in the new job description.
Joining STX Entertainment, Kathy Savitt will be under the leadership of CEO Robert Simonds and president of the company, Sophie Watts.
Interviewed about her new position, Savitt declared:
“I’m excited to join Bob, Sophie and the STX team. In a time of unprecedented change in the media industry, STX is redefining storytelling. What we are doing at STX hasn’t been done before; we are creating a new way for audiences to access meaningful stories, from wherever they are”.
On STX’s side, praise as to Savitt’s expertise and future role wasn’t spared either. According to Simonds, the expertise that Kathy Savitt has gathered during her career as well as her creativity will push STX Digital up the ladder. Meeting the requirements of a new audience and a shifting entertainment industry sounds like an easy job for Savitt.
Savitt leaving Yahoo is seen by analysts as a hard hit for the company and for CEO Marissa Mayer. The struggling company is facing ever harder hoops to jump through. Over the past three years, Savitt’s role with the company grew increasingly, including becoming the head of media. Screen, digital magazines supported by Tumblr and overtaking ‘Community’ are just a few of the achievements on Savitt’s list.
Savitt’s expertise as a marketer is unquestionable. Starting with American Eagle Outfitters, including her own Lockerz social commerce venture (closed in 2014), she’s received nothing but praise.
Just turned one year old STX Entertainment will certainly benefit greatly from Kathy Savitt’s inclusion as president of STX Digital. The first project released by the young company was the Jason Bateman horror – The Gift – on August 7th.
Kathy Savitt’s departure from Yahoo is perceived as more than just a thrust of personal ambition. Things look shaky with regards to Yahoo’s leadership roles. Just last month the senior VP for advertising and data platforms Scott Burke announced his leave from the company. He was joined by Dawn Airey, lead of Yahoo’s international units. Further back, in June, Alex Stamos, chief information security officer also left his position at Yahoo after one year only to join Facebook.
Photo Credits: fastcompany.net