Marco Auletta has resigned from his position as chief executive of the MP & Silva agency.
Auletta said it was the “right moment” to step down following the recent takeover of the agency by a Chinese investment fund.
In May, MP & Silva confirmed that Shanghai Jin Xin, a fund created by Chinese financial services company Everbright and internet entertainment and technology provider Baofeng, had acquired a 65-per-cent stake in the agency. The deal was said to value MP & Silva at around $1bn (€891.3m).
Auletta was named as chief executive of MP & Silva in 2009 and has overseen the agency’s growth and helped develop a portfolio of media rights that provides over 10,000 hours of programming annually to over 200 broadcasters in 215 countries. Prior to taking on the role, he served as vice-president of acquisitions at the agency.
“MP & Silva will always be an important part of my life; and, because I have a strong belief and trust in the group’s future, I will remain a minority shareholder,” Auletta said.
“Following the establishment of the new partnership with Baofeng and Everbright this is the right moment for me to take a step back from the daily management of the company.”
MP & Silva is in the process of appointing a new chief executive and will make a further announcement in due course.
MP & Silva’s portfolio includes the international rights to Serie A, the top division of Italian football, which it is marketing for the period spanning 2015-16 to 2017-18.