Bill Lee Steps Down as CEO of Alchemy7 Dec, 2015 By: Erik Gruenwedel
Bill Lee, who helped transition home entertainment distributor Millennium Entertainment to Alchemy, is stepping down as CEO — replaced by Kelly Summers, SVP of strategy and financial Planning, and COO Scott Guthrie as new co-presidents.
In their new roles, Guthrie will be responsible for leading sales, operations and finance, and Summers will oversee strategic planning, marketing and production/acquisitions. Both will report to Jesse Watson, chairman of the Alchemy board.
Lee will continue as advisor to the board and investor in Alchemy.
"It has a been a privilege to lead Alchemy and work alongside some of the best leaders in the business," Lee said in a statement. "After many years with the company, it's time to hand over the reins to a new team of talented executives. I look forward to working with the board and our team to ensure a smooth transition."
Alchemy has been upping its management profile for some time.
In October, it announced the promotion of Brooke Ford to EVP of marketing, acquisitions and productions, and Jeff Deutchman to SVP of acquisitions and productions. In September, Jack Talley was named EVP of physical distribution.
Jim Jenkins transitioned to the role of EVP of strategic business development and mergers & acquisitions. And Norbert Hudak was hired to serve as SVP of affinity pods and business development, through which he will develop, acquire and maximize Alchemy's action, horror, faith, family, urban and documentary slates.