Bob Buchi will relinquish his role as president of Paramount’s Worldwide Home Entertainment Division.
Dan Cohen, the studio’s chief content licensing officer, told Paramount employees this news in the form of internal documentation that the Hollywood Reporter recently received.
“In his 18 years with the organization, Bob’s vast contributions have included numerous innovative strategies that demonstrated his expertise at adapting to a constantly evolving landscape,” said Cohen.
Craig White, who served as Buchi’s executive vice president of worldwide sales and distribution for home entertainment, is also slated to exit Paramount.
Replacing Buchi will be Andres Alvarez. Alvarez’s former position was as head of digital distribution at Amazon Studios overseeing that company’s global transactional business and domestic Advertising Video On-Demand (AVOD) and Free Ad Supported Television (FAST) distributions.
“Andres is a digital force and a highly focused, forward-thinking executive with remarkable insight and a strategic mind that is respected throughout the industry,” Cohen added.
A division president’s exit, to be replaced by an executive vice president, is attributed to cost-cutting measures at Paramount after three executives took the company’s helm not long ago including George Cheeks, the former president and CEO of CBS, Chris McCarthy, the one-time president and CEO of Showtime/MTV Entertainment, and Brian Robbins, president and CEO of Paramount Pictures.
Highlights of the Memo
Cohen’s memo to the Paramount workforce began by lauding Alvarez’s hiring.
“I’ve personally known him (Alvarez) for more than 10 years,” he said. “We currently serve on the Digital Entertainment Group (DEG) Board of Directors together, and I have no doubt that with his experience across digital distribution and sales, he will bring incredible value to our organization.”
Alvarez boasts a long and storied history in the digital media realm.
Before his most recent job with Amazon, he held the title of Senior Vice President of Digital Distribution at MGM. Prior to his work with the revered studio, he headed domestic content licensing and account management for the global digital platform at 20th Century Fox.
Alvarez’s first executive job in the media industry was as the manager of content partnerships for Google Play and YouTube Movies and TV.
Before venturing into the corporate arena, Alvarez practiced law. He worked for New York’s prestigious firm Latham and Watkins LLP. Several years later he took his talents to Los Angeles to conduct legal business for Silverberg and Knupp LLC.
Cohen then turned his attention to the departing Buchi. He credits the outgoing executive for playing a major role in transforming Top Gun: Maverick into the most lucrative digital release ever.
“Throughout his tenure, Bob has fostered invaluable partnerships across the industry while building a best-in-class team and we are grateful for his many years of service and industry leadership,” Cohen added.
The communique concluded with Cohen offering all just plaudits to White. “We thank him for his contributions and wish him the best,” Cohen said.
Alvarez is set to begin in his role on July 15. Buchi will stay on for a brief time to help shepherd Alvarez through the transition period.
