Vevo continues to lose top-level executives. Just months after former CEO Erik Huggers announced his decision to depart the music video network, another C-level employee, CTO Alex Nunes, has left as well. In addition, Vevo has announced an unspecified number of layoffs within its product and engineering divisions.
Nunes had been at Vevo since 2015. He assumed his post after the company’s previous product chief, David Rice, left as part of previous round of layoffs. Now that Nunes has himself said farewell to Vevo, the network is reportedly building a new product team that will be led by VP of engineering Andy Smith.
Variety, which first reported the news of Vevo’s latest layoffs, also shared a statement from the company. “We can confirm there has been a reduction of personnel across the Product & Engineering teams at Vevo,” the statement reads. “This decision allows for greater focus to drive increased growth in the promotional and commercial value of videos. This will build on what was a very strong 2017 for us with growth in the scale and reach of the music video.”
Huggers departure from Vevo’s CEO post came months after the company canceled plans to launch a subscription service. It didn’t take long before Mark Hall, Vevo’s Head of Product, cleaned out his office as well. Now that Nunes is leaving, too, Vevo’s executive exodus continues unabated.
Much of Vevo’s viewership comes through YouTube. The company’s network includes many top music videos, including “Despacito,” which recently became the first YouTube video to surpass five billion views.