Miramax CEO Mike Lang is stepping down from his post a little more than a year after taking it on, the film company announced Friday. He has agreed to remain a consultant to the company as it searches for a successor.
Richard Nanula, chairman of Miramax, said in a statement: “We are very proud of what Miramax has accomplished in such a short period of time. Mike has built a team of dedicated professionals, and they’ve worked together to create tremendous value. Miramax has established partnerships with leading distributors and with promising emerging platforms, with many more to come. The value of the Miramax film library and its iconic underlying brand is clear, and the future is bright. We thank Mike for all of his hard work, and we wish him well as he looks at future endeavors."
Miramax CFO Steve Schoch will run the company until a permanent successor can be found, the company said in a statement.
Santa Monica private equity firm Colony Capital acquired Miramax from Walt Disney Co. in December 2010 together with construction magnate Ron Tutor for $663 million. Lang, who started his career at Walt Disney in strategic planning, was a consultant on the acquisition and became CEO in December 2010.