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MGM Names Kenneth Kay as CFO

Metro-Goldwyn-Mayer has appointed veteran executive Kenneth J. Kay to the post of chief financial officer, succeeding Dene Stratton.

Chairman and CEO Gary Barber made the announcement Monday. Stratton was one of the first hires that Barber made after he and Roger Birnbaum were appointed co-chairmen and CEOs of MGM in late 2010.

During Stratton’s tenure, MGM secured a distribution and co-financing partnership with Sony Pictures Entertainment, which included “The Girl With the Dragon Tattoo,” “21 Jump Street,” “22 Jump Street,” the 23rd James Bond pic “Skyfall” and the upcoming “Spectre.” Warner Bros. also partnered with MGM on the “Hobbit” trilogy.

“Ken brings to MGM a wealth of strategic experience and expertise, and will be a valuable asset as we continue the strong momentum we have built over the last few years,” said Barber.

In 2013 Kay co-founded Las Vegas-based investment and advisory service firm Raven LLC, which provides debt and equity capital as well as management consulting/advisory services to small- and medium-sized businesses. Prior to founding Raven, Kay served as exec VP and CFO for the Las Vegas Sands Corp.; he also served as senior exec VP and CFO for CB Richard Ellis Group.

Stratton said, ““It has been enormously gratifying to have been involved in the rebuilding of this great company, and I am honored to have played a role in the process. I will miss the incredible team here at MGM but I eagerly anticipate my next challenge.”

 

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