Former Pixar chief financial officer Lawrence Levy was tapped as CEO of Shockwave.com on Tuesday, with current chief exec Rob Burgess opting to continue on as chairman of the Netcaster along with his duties as chairman and CEO of parent company Macromedia.
“There’s only so many hours in the day,” Burgess told Daily Variety. “Do you know anybody who runs two public companies?”
Shockwave.com earlier this year announced its intent to file for an initial public offering on the stock market. Levy, 41, led the IPO efforts at Pixar and technology company Electronics for Imaging.
“We’re thrilled to bring him on,” Burgess said. “Internet entertainment blends a lot of disciplines: entertainment, technology and finance. He’s got a totally unique background.”
Levy’s appointment is effective July 19. He will also serve on the board of the directors of the Netco. Levy presently sits on the boards of Pixar and EXP.com.
“Shockwave.com is building the first new generation entertainment company that truly integrates the power of technology, entertainment and the Web,” Levy said. “I am delighted to be joining this extraordinary team.”
Burgess said he will maintain an active role in the company by focusing on “underdeveloped” areas of the Netco, such as international operations.
“I prefer to think of it as a partnership,” Burgess said of the Netcaster’s new power structure.
In recent months, Shockwave has inked a host of content alliances, including deals with “South Park” creators Matt Stone and Trey Parker, David Lynch, Ben Stein, Tim Burton and Jim Belushi. Upcoming pacts with “Saturday Night Live” cast member Chris Kattan and actor Harland Williams are anticipated. Shockwave has received million-dollar coin from such Hollywood big shots as former Warner Bros. chairman Bob Daly.
Shares of San Francisco-based Macromedia, the majority owner of Shockwave, were up less than 1% Tuesday to close at $100 on the Nasdaq.