Hozefa Lokhandwala will step down as co-CEO of Vice Media Group to start “a new endeavor,” he said in a memo to staff Thursday. Bruce Dixon, formerly co-CEO alongside Lokhandwala, will now be the sole CEO.
Lokhandwala’s exit comes after the company filed for Chapter 11 bankruptcy protection and in July 2023 closed a $350 million sale to a group of its former lenders, Fortress Investment Group, Soros Fund Management and Monroe Capital.
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