By Ed Attwood
Ed Borgerding to leave state-owned media firm after three years, CFO to step into role
Ed Borgerding, the CEO of state-owned Abu Dhabi Media Company (ADMC), has resigned from his post after three years to concentrate on independent projects, the company said on Thursday.
He will be replaced by chief financial officer Frank Mooty on a temporary basis while ADMC searches for a successor, the company said.
"We are thankful for the contribution that Ed has made to the evolution of ADMC over the past three years,” said ADMC chairman Mohammed Mubarak Al Mazrouei.
US-born Borgerding, a veteran Disney executive, was brought on board the state-owned media company in 2008 one year after its launch.
Under his leadership, ADMC has signed several multi-million-dollar deals, including Imagenation, a $1bn fund to bankroll Hollywood films, and a $750m contract with Warner Bros to produce video games and films.
In March last year, the company paid a reported $300m for exclusive rights to host English Premier League football games across the Middle East region.
Is this an achievement for Arabic content? "$1bn fund to bankroll Hollywood films, and a $750m contract with Warner Bros to produce video games and films."