Telco exec heads Endemol

Cancio succeeds Agut at conglom

Global entertainment giant Endemol has tapped a topper from parent company Telefonica as its CEO.

Elias Rodriguez-Vina Cancio, previously in charge of non-core subsidiaries at the Spanish telco, succeeds Joaquim Agut, who resigned last week. His appointment must be approved by shareholders at an extraordinary meeting, which is imminent.

Some insiders will view the new chief as a caretaker manager prior to further changes at the company.

Endemol, whose international hits include “Big Brother” and “Deal or No Deal,” is the subject of takeover speculation, particularly since Telefonica offloaded 22.3% of the company in November.

One possibility is a management buyout, in which case Endemol’s chief operating officer, Tom Barnicoat, is tipped to take over the CEO’s role.

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