Veteran ICM Partners government Rick Levy has stepped down from his duties as chief working officer and can transition out of the company at the tip of 2020, insiders acquainted with the corporate advised Variety.
Levy added the title of COO to his long-standing position of common counsel in October, following the short-lived tenure of former Tribune Publishing government Justin Dearborn. He stays common counsel and can work carefully with company chief Chris Silbermann by the tip of the yr.
Levy, who introduced his departure at an all firm employees assembly on January 27, is leaving by alternative, which an ICM spokesman confirmed.
The COO job was successfully dissolved in January, in accordance to a supply, when the duties of that workplace have been break up between company co-presidents Kevin Crotty and Sloan Harris. Levy’s intent to wind down was introduced at that point, although phrase has circulated anew amid the coronavirus pandemic. He’ll proceed to serve on boards, together with that of U.Okay. company Major Expertise, which ICM acquired in March.
ICM will want to fill his position as common counsel, experience that can be essential to the company because the business makes an attempt to navigate the return to manufacturing following the coronavirus lockdown, which has shuttered movie and TV productions, and significantly slowed dealmaking.
Levy is believed to be one of many longest-serving ICM staff nonetheless at the corporate, having come on board in 1997. The favored government was the famous right-hand to former company chief Jeff Berg. He was a key participant in hammering out the sophisticated break up between ICM and its former non-public fairness associate Rizvi Traverse, which led to the ICM turning into a partner-owned store in Might 2012. He additionally represents ICM within the Affiliation of Expertise Brokers, presently embroiled in a turbulent battle with the Writers Guild of America.
A large restructuring was put in place final fall when Dearborn resigned after seven months, together with human sources chief Cindy Ballard, which Variety reported completely. As well as to upping Crotty and Harris, Adam Schweitzer was named managing director in expertise and branding. In New York, Jennifer Joel was tapped as co-head of publishing alongside the long-serving Esther Newberg.