Paramount Australia EVP & chief operating and commercial officer, Jarrod Villani, has left the company after three years with the business.
Villani has been working as Paramount’s co-leader alongside chief content officer Beverley McGarvey.
McGarvey remains at Paramount as the company’s solo leader.
The news comes after Thursday’s announcement that Australian jobs would be impacted as Paramount Global layoffs affected a reported 800 workers.
Whilst no number of redundancies has been confirmed, Mediaweek has been told that the news division is not impacted.
A memo from Paramount Global’s president, broadcast & studios, international markets, Pam Kaufman, reads “In order to drive earnings growth in 2024, we have had to make some tough but necessary decisions to ensure we continue growing our revenue while streamlining operations and reducing costs.
“Unfortunately, this includes parting ways with some of our respected colleagues across the Australian business, who will be notified by close of business today.”
See Also: Australian job losses confirmed as Paramount Global swings the axe
The Global cuts were originally confirmed by Paramount’s CEO Bob Bakish, who explained the decision saying “returning our company to earnings growth is a top priority in 2024. This will require us to continue to grow revenue, while reducing costs.
“Unfortunately, part of streamlining costs means that we will begin the difficult process of saying goodbye to some of our very valued colleagues across Paramount.”
He continued, saying “These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead – and I firmly believe we have much to be excited about.’
Jarrod Villani was appointed EVP & chief operating and commercial officer in early 2021, joining Paramount from advisory and investment firm KordaMentha where he was Queensland’s head of restructuring and Brisbane’s head of office.
In February of last year, both Villiani and McGarvey were promoted, with Villani adding regional lead for Australia to his resume, whilst McGarvey also became head of Paramount+ in Australia.