Panavision replaces CEO again
Consumer video and camera electronics manufacturer Panavision Inc. announced that current President and Chief Executive Officer William Campbell has resigned, and Bill Bevins has assumed his position, according to the company
Bevins has been an entertainment business leader with more than 40 years of experience, holding such positions as president and CEO and as a director of Andrews Group Incorporated, an entertainment media holding company.
Bevins also served as chief financial officer of Turner Broadcasting System, Inc. and is currently a director of M&F Worldwide Corporation, a holding company that owns and manages Harland Clarke Corporation, Harland Financial Solutions, Mafco Worldwide Corp. and Scantron Corporation.
Panavision Inc. is a leading designer and manufacturer of high-precision camera systems, comprising film and digital cameras, lenses and accessories for the motion picture and television industries. Panavision systems are rented through its domestic and international owned and operated facilities and distributor network. Panavision also supplies lighting, grip and crane equipment for use by motion picture and television productions.
Bevins’ new position will entail his oversight of Panavision
’s global operations and the company’s day-to-day management.
“Bill Bevins is a long time friend and member of the MacAndrews & Forbes family,” Vice Chairman Ken Ziffren said in a statement. “He brings unparalleled operational experience to the table, which will help strengthen Panavision’s platform for future growth.”
Bevins expressed excitement at the prospect of continuing Panavision’s success moving forward. Additionally, Campbell will maintain a level of involvement with Panavision and its affiliated entities at MacAndrews & Forbes in an advisory capacity to assist with development and growth of the business.
Director of Public Relations Suzanne Lezotte told WinmoEdge that because Panavision hired Campbell in April to run the company, and he now stepping down just a few months later, the company is not comfortable with commenting on this announcement.
She said that Panavision is not currently working with any agencies at this point and that Lezotte is handling all of the company’s marketing and public relations efforts herself.
“If you think of our company, new product-wise, we have a new camera coming out once every four years, so our products that come out are more technological and less frequent,” she said. “The company is 55 years old, so it’s one of those companies that have the reputation of being the best in service, quality and product.”
Our source added that Panavision experienced mass layoffs a year and a half ago, and therefore the company is under a tight budget as the entertainment and consumer electronic industries struggle financially.
Lezotte added that Panavision let go of its art director recently, and as such, the company has not been doing any advertising at all. She said that now is not the time to ask about external agency affiliations or partnership opportunities.
“Hopefully with new direction of new CEO things will get better, and if things get better, who knows,” she said.
Times are tough for Panavision right now, and the company is merely holding on to its deep roots and history to stay afloat. Like Lezotte said, now is not the time to make approaches, but keep the company on your radar, because of Bevins manages to ramp up Panavision’s morale and success, there could be many opportunities in the future.
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