A Filcro Media Staffing Presidential Case History
Global Real Estate Holdings
U.S. Multinational Media & Entertainment Conglomerate
Location New York, NY - USA
Search Firm Filcro Media Staffing
OIC Tony Filson Reporting to Board of Directors & Incumbent
Client Diversified U.S. Multinational Media & Entertainment Conglomerate
Client Situation Succession Plan - Executive Search for a New President
Executive Search Committee Member Industry and Sector Inclusion
Television Networks - Cable & Broadcast
Radio Broadcasting Networks
Motion Picture Studios
Network & Syndicated Programming Producers
Fortune 50 & 100 Financial, Industrial & Telecommunication Conglomerates
Multinational Law Firm
The executive search committee (ESC) with the President / CEO acting as the point of contact, identified Filcro Media Staffing (FMS) and Tony Filson (TF) functioning as Officer in Charge of Search to conduct a national search to identify the proper President of Global Real Estate.
The firm’s specialization in the media and communications industries was beneficial at every phase of the search process. Recruitment and attraction benefited from a firm capable of conveying the unique composition of a global media and entertainment real estate portfolio with complex technical facilities.
The diversity of the global real estate portfolio
Raw land, commercial, industrial, agriculture, entertainment.
All offices for broadcast operations, production, engineering, network operations centers, executive offices
Satellite earth stations, NOC's, Headends, Antenna for cross-utilization by multiple media holding (TV Networks).
Entertainment venues including amusement parks, movie theaters, and sports facilities.
These are just a few examples of the complexity of the global real estate portfolio this executive would be managing.
Challenges facing the new President
Real Estate Portfolio Management
Divestiture of Idle Assets
Centralize Control of International Real Estate Assets
Land and Building Acquisitions
Lease Portfolio Optimization
Hiring (2) two Vice Presidents and Implementing Best Practices
Filcro Media Staffing’s Solution
Filcro Media Staffing proceeded to identify senior most real estate executives with current global management responsibilities of real estate portfolios, equal to or greater in scope than the firm’s current holdings and management requirements.
A prerequisite was not only the experience managing the size and diversity of the real estate portfolio it was also the substantial worth of the firm’s global holdings.
The capacity to identify an executive who could maintain greater controls and optimize return by bringing in-house what was currently out-sourced would be essential.
Establishing cross-functional real estate and facility teams in such a diverse media and entertainment conglomerate where motion picture studio, TV Network, publishing, venue entertainment, office space, industrial and raw land all came into play required a strong strategic leader with broad real estate acumen and experience through acquisition, management, leasing, construction, merging and divesting assets to optimize the portfolio at all times.
This President would have to report into one of the most dynamic and noted media chairman in the world. The succession plan required an executive capable of managing a substantial portfolio with the complete approval of a demanding board of directors in one of the world’s most respected publicly held media and entertainment conglomerates.
Successful Executive Recruited
Filcro Media Staffing initially scrutinized real estate executives from the media and entertainment sectors in New York, Los Angeles, Chicago, Pennsylvania, and Atlanta. Subsequently, Tony Filson as the Officer in Charge of the search was not satisfied with the initial universe and conferred with the current President of global real estate, to gain consensus of the board, to identify a candidate who met all the prerequisites established by the board and recruit outside of the media and telecommunications industries. Gaining consensus of the executive search committee, Filcro Media Staffing proceeded to aggressively look at other sectors with substantial global real estate holdings that exceeded that of the media conglomerate yet still had the diversity and technological complexity of their holdings. The advice of the OIC was well founded and resulted in multiple candidates, that were tired, from within and without of the media and entertainment industries.
Tony Filson as Officer in Charge of Search initiated greater scrutiny of multi-conglomerates in the financial and industrial sectors. This plan proved to exceed the executive search committee's expectations for portfolio size, diversity, worth, and technological complexity.
Ultimately the Managing Director of a diversified multinational financial institution based outside of a major geographic market was identified, recruited, attracted and unanimously approved by the board, incumbent, and the Chairman.
The Chairman's and the board's succession plan was brought to fruition, at the cadence, and with the quality of executive desired to become the next President of the firm’s Real Estate Group.
The executive transitioned successfully and became acclimated in a brief period of time.
The firm’s succession plan for this executive to assume the presidency was successful and the executive has exceeded the board of director's expectations and those of the Chairman from a real estate management, executive leadership and asset optimization perspective.
This President has proven to be a vital asset to a publicly traded U.S. based multinational media and entertainment conglomerate with substantial global real estate holdings and leasing transactions.
Filcro Media Staffing
Media & Broadcasting Executive Search Specialists