Vice chief creative officer Tom Punch departs for Spring agency amid cuts

Vice chief creative officer departs amidst retrenchment

Vice has confirmed that chief creative officer Tom Punch has departed in one of the first casualties of an organizational shake-up which will see the digital media and broadcasting business reduce its headcount by 15%.

Punch has vacated his position in order to accept a similar role at ad agency Spring Studios having been credited with holding Vice revenues steady by focusing on branded content and advertising.

Spring Studios chairman Francesco Costa said: “Tom has a strong track record of driving enterprise value while transforming culture through innovative commercial partnerships. He has spent his career working across cultural industries in media, advertising, production, events and film. We are excited to have him.”

Vice was reported to have lost $100m in 2017 and is expected to shed a further $50m this year, prompting moves to reduce costs, forcing Disney to write down its valuation by $157m.

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