Panavision shake-up: Campbell out, Bevins in
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Panavision Inc., the longtime supplier of motion picture camera equipment, has replaced Chief Executive William (Billy) M. Campbell — after just 10 weeks on the job.
The Woodland Hills company, controlled by the billionaire Ronald O. Perelman, said in a statement that William C. Bevins, a longtime associate of Perelman’s, had replaced Campbell, the former president of Discovery Networks who also had been an executive at ABC, CBS and Warner Bros. Television.
Bevins is the fourth CEO in six years at Panavision, which manufacturers and designs film and digital cameras that it rents out to film crews, along with lighting, grip and crane equipment.
Panavision offered no explanation for Campbell’s abrupt departure. The company’s employees were stunned by the news, coming so soon after Perelman hailed him for his “visionary leadership” that would “take Panavision into the next phase of our business.”
Campbell had replaced Bob Beitcher, who had been tapped by Perelman in 2003 to revitalize the business that had been slow to roll out new products and adapt to a changing digital market.
The management shake-up comes at time when many companies that service the film and TV business
are reeling from a sharp downturn in production. Sources close to Panavision say its business was especially hard-hit last year during the 100-day writers strike, which virtually shut down television production, and the subsequent slowdown caused by year-long contract dispute between the Screen Actors Guild and major studios. The recession also has prompted studios to make fewer movies, further depressing demand for camera equipment.
Panavision has laid off more than 100 workers from its offices around the world in the last 18 months and currently employs about 1,150, including nearly 300 in Woodland Hills.
Bevins is a former consultant to MacAndrews & Forbes Holdings Inc., Perleman’s main investment vehicle. A former chief financial officer for Turner Broadcasting System Inc., Bevins also previously ran New World Communications Group Inc. and Marvel Entertainment Group.
“He brings unparalleled operational experience to the table, which will help strengthen Panavision’s platform for future growth,” said Panavision Vice Chairman Ken Ziffren, a veteran entertainment industry attorney.
In a statement, Campbell called his short tenure with Panavision ‘a privilege’ and said he would remain as an advisor to the company. A spokesperson said he was not available for further comment. Campbell was among the passengers of the USAirways plane that crash landed in the Hudson River last January.
-- Richard Verrier
