South Korean film producer Spackman Entertainment said on Wednesday it tapped John Ko, age 44, as its new CEO, effective immediately.
Ko is currently the CEO of Greenlight Content, which Spackman acquired in November, it said in a filing to SGX after the market close on Wednesday.
“As the incoming CEO, I see a need to boldly transform the group’s existing business model such that we do not solely rely on producing one or two blockbuster movies per year,” Ko said in the statement. “We intend to ramp up our revenue streams by focusing on synergistic businesses outside of film production that can leverage the brand power of Spackman Media Group’s artists.”
Ko also said he would pursue partnerships in Southeast Asia, where the demand for Korean content and artists has been brisk.
He added that new management appointments and restructuring were aimed at boosting Spackman’s depressed stock valuation and price.
Under Ko’s leadership, the group successfully co-produced its first Korean drama, “Terius Behind Me,” which had the top-ranked position in drama viewership for its time slot, the filing said.
Interim CEO and Executive Director Richard Lee, age 44, was stepping down from those roles and become a non-executive director, Spackman said. Lee had held the role on an interim basis since January 2018, it said.
“Given Mr. Lee’s extensive experience in the investment in media and technology sector, he shall provide direction, guidance and advice to the group for new business ventures and M&As,” Spackman said in a separate filing to SGX.
In separate filings, Spackman said it tapped Na Kyoungwon, age 43, as chief operating officer and president; he has been an executive director since January and has been the company’s chief financial officer since 2013.
Spackman said it tapped Ng Siew Ling, age 32, as group financial controller; from 2016 to the present, she was senior manager at Spackman Media Group.
Jung Suk Young, age 43, has ceased to be an executive director of the group to assume a new position at a new, spin-off entity related to the proposed stock exchange listing of Frame Pictures and Novus Mediacorp, it said in a separate filing. He had been responsible for overseeing and managing film production and financing.
Spackman said head of investor relations Jasmine Leong, age 31, was also appointed to the additional role of general manager.