Vice C.E.O.’s Departure Signals Fallen Hopes for Digital Media
She also nodded to other improvements under her leadership, including creating a more inclusive workplace environment. Ms. Dubuc joined Vice shortly after investigations into the company’s culture, including by The Times, revealed incidents of sexual harassment against women who worked for the company.
“I know you are among the most resilient, creative and determined talent in the business, and your futures are bright and hopeful,” Ms. Dubuc wrote in her email. “Remember what I try to remind you, and that is to appreciate how far you’ve come.”
Reached by phone on Friday, she declined to comment further.
In a statement, Vice’s board said Ms. Dubuc had joined the company during a critical period and “positioned the company for long-term success,” adding that Vice would soon announce new leadership for the company.
Vice declined to comment on its boardroom deliberations.
Ms. Dubuc replaced Shane Smith, a founder of Vice, who had struck a series of deals that drove the company’s valuation ever higher but left it with onerous financial obligations to its increasingly anxious investors, who were antsy for an exit.
There was a major point of tension at the beginning of Ms. Dubuc’s appointment.
In March 2018, Vice’s board of directors gathered over teleconference in a special session to select its new chief executive, according to a copy of the minutes of the meeting obtained by The Times and two people with knowledge of the board’s deliberations. Mr. Smith, a board member, told other directors that leaks to the press were forcing the company to speed up some of its decision-making.
In addition, Kevin Mayer, a board member who was then a high-ranking executive at Disney, expressed frustration that he did not know about Ms. Dubuc’s potential hiring until it had reached the final stages. Disney had an ownership stake in Vice and A&E Networks, where Ms. Dubuc was chief executive.
Still, the board approved Ms. Dubuc’s hire, expressing optimism that an experienced executive with her track record could address the cultural issues at Vice and improve its financial performance ahead of a potential sale. Mr. Mayer, who was irate, abstained from the vote.
