VICE Media Group appoints co-CEOS

The Future. After Nancy Dubuc’s exit last week, VICE Media Group (VMG) promoted two longtime executives, Bruce Dixon and Hozefa Lokhandwala, to co-CEOs to lead the company through its next chapter. As the twin CEO approach gains traction, more companies could embrace this new management structure as a way to relieve a single person of impossible corporate demands.

A two-person job
VMG’s new duo will reportedly guide the strategic and creative direction of VICE Media alongside the board of directors. Who are they?

• Dixon has been CFO at VMG since 2021 and was previously CFO of VICE Studios. Before that, he was finance director of global markets for BBC Studios.

• Lokhandwala has been the chief strategy officer at VMG since 2018. Prior to that role, he served as a managing director in J.P. Morgan’s Media Investment Banking Group.

A cash-strapped company
VMG has been seeking a buyer for the past year.

• Its main business units are VICE.com, the VICE Studios film and TV production unit, the VICE TV television network, VICE News, and the creative agency Virtue.

• The company’s portfolio includes Refinery29, London-based Pulse Films, and the style publication i-D.

While it’s unclear how Dubuc’s previous responsibilities will be divided between Dixon and Lokhandwala, having two co-CEOs with the right expertise could boost VMG stock and position the company for a sweet sale.