John Amato, CEO of The Hollywood Reporter-Billboard Media Group, is stepping down from his role at the company.
Asif Satchu and Modi Wiczyk, co-CEOs of parent company Valence Media, made the announcement to staff in a memo Wednesday morning. The executives stated that an interim leadership plan will be unveiled “in the near future.”
Amato’s departure follows a Feb. 1 reorganization at the parent company of The Hollywood Reporter and Billboard brands, which are now organized under Valence Media, an umbrella group that also includes production companies Media Rights Capital and Dick Clark Productions and an investment in independent film studio A24.
New York-based Amato has served as co-president of The Hollywood Reporter-Billboard Media Group since 2014 and was given the title of CEO in 2017.
Editorial leadership of the media brands remains the same.
The Hollywood Reporter-Billboard Media Group, which also comprises the websites of SPIN, VIBE and Stereogum, has undergone significant growth under Amato, reaching 36.7 million monthly unique visitors in the U.S. in May 2018, according to comScore.
This article originally appeared on The Hollywood Reporter