With Nancy Dubuc’s departure from Vice Media Group last week, the company named longtime execs Bruce Dixon and Hozefa Lokhandwala as co-CEOs, effective immediately.
Lokhandwala (above right) has been chief strategy officer at Brooklyn-based Vice Media since October 2018, and Dixon (above left) has been CFO at VMG since 2021 and was previously CFO of Vice Studios. The duo will lead the strategic and creative direction of Vice Media, working with the board of directors.
Dubuc announced her exit from Vice Media after almost five years as CEO in a memo to staff on Friday, Feb. 24. The cash-strapped company has been seeking a buyer over the past year.
The Vice board said in a statement: “Hozefa and Bruce are incredibly experienced and deeply talented executives who enjoy the full trust of Vice’s leadership team and board, and are the right individuals to lead Vice forward. With their combined 10 years of experience at Vice, and their long commitment to the company’s brand, mission and operations, they’re perfectly positioned to guide the company through this next important stage of growth.”
Lokhandwala and Dixon said in a joint statement: “We’re both passionately committed to bringing the brand, business operations and creative spirit of Vice forward into the future, and we’re excited and grateful for this opportunity to continue to work closely with the board and VMG’s exceptional management team. This is an era of tremendous change for media companies, and Vice’s unique brand of news, entertainment and lifestyle content has never been more relevant. We look forward to building on its success as we chart the next exciting chapter for the company.”
Vice Media Group’s five main business units are: Vice.com, the Vice Studios film and TV production unit; the Vice TV television network; Vice News; and creative agency Virtue. The company’s portfolio also includes Refinery29, the media and entertainment brand focused on women acquired in 2019; London-based Pulse Films; and i-D, a digital and print style publication covering fashion, culture and design.
Prior to joining Vice Media, Lokhandwala served as a managing director in J.P. Morgan’s Media Investment Banking Group. He also was an investment banker in Bear Stearns’ media and entertainment group and worked in the business and finance group at Morgan Lewis, providing legal advisory services for M&A and finance transactions. He holds an MBA from Columbia Business School, a law degree from Brooklyn Law School and a bachelor of arts degree from Oberlin College.
Dixon was previously finance director of global markets for BBC Studios, and was group controller and head of financial planning and analysis for Central European Media Enterprises. He holds master’s degree in auditing, management accounting and information systems from the Skema Business School in France. Dixon splits his time between the U.K. and U.S. and lives with his wife and their two children.