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Syco CEO steps down
By CMU Editorial | Published on Monday 20 December 2010
The CEO of Simon Cowell’s JV with Sony Music, Syco Entertainment, has stepped down less than a year after joining the music and media company. Ellis Watson was brought in to the business in March following the restructure of Syco that followed Simon Cowell renegotiating his deal with Sony Music back in January.
Although Watson oversaw the whole Syco empire in his CEO role, he was brought in mainly to oversee the expansion of the firm’s TV operations, in particular the launch of the ‘X-Factor’ brand outside the UK. As well as a background in newspaper management, Watson had spent three years as MD of TV producers Celador and had overseen the expansion of the ‘Who Wants To Be A Millionaire’ franchise.
But, strangely, nine months on, it is that global expansion of the Syco business being given as a reason for Watson’s departure. The Scottish executive says his role requires too much time in the US away from his family back in Scotland. He told reporters: “We’ve achieved an amazing amount in a short time, and Syco is more than ready to take on America. I’m gutted that I can’t reconcile my family needs in Scotland with the demands of being in the US – Rodeo Drive isn’t quite ready for my Highland cattle. I’m proud of the team’s achievements and will enjoy watching their continued success from Blighty”.
Confirming Watson’s departure, Cowell said: “I would like to thank Ellis for his valuable contribution, hard work and enthusiasm; he will be missed by all of us”. A spokesman for Sony Music told The Guardian they had no plans to replace Watson at present.
