Otter Media has parted ways with a top executive. Virasb Vahidi, the CEO of the online video company owned by the Chernin Group and AT&T, has resigned after barely a year on the job.
Vahidi joined Otter in September 2014, after previous executive positions at American Airlines and AT&T. The now former CEO told company employees in a memo that since his hire, “it has become clear to [Chernin Group CEO Peter Chernin] and me that the role of the CEO is different than we had originally envisioned.” An Otter Media rep confirmed to Re/code, who originally broke the news, Vahidi has exited the company, and there are no immediate plans to replace him.
Otter Media launched in April 2014, with AT&T and Chernin investing $500 million total into the venture. Otter currently owns a majority share in YouTube multi-channel network Fullscreen, which has recently launched its own feature-length film division. Otter also owns a video-on-demand subscription service run by ex-YouTube executive Tom Pickett, who oversees other Otter properties such as Japanese anime video platform Crunchyroll and crafts site Creativebug.
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Vahidi’s departure follows on the heels of some big news from AT&T competitor Verizon, who just acquired AOL and all its online video properties. Hopefully, Vahidi’s departure doesn’t negatively affect Chernin and AT&T’s Otter Media, so the venture can continue to hold its place in the online video industry.
