In a memo to Viacom employees, Mr. Bakish called Mr. Gianopulos “a hugely talented executive, with a strategic vision, strong business expertise
and deep industry and creative relationships that are second to none.”
He added that Mr. Gianopulos would have “a running start” because of Paramount teams “who are right now exploring new ways to strengthen the studio
and position it for success.” A spokeswoman declined to make Mr. Bakish or Mr. Gianopulos available for interviews.
The studio, which lost $445 million in its last fiscal year, found modest Oscar-season hits in “Fences” and “Arrival.”
But it has mostly become a bomb factory, releasing unpopular films like “Silence,” “Allied,” “Ben-Hur,” “Zoolander 2,” “Monster Trucks” and “13 Hours: The Secret Soldiers of Benghazi.”
Paramount’s previous chairman, Brad Grey, was ousted in February.
Mr. Gianopulos, who turns 65 in April, will take over as chairman of Paramount on April 3, Viacom said on Monday.
And several coming movies could be hits, including “Ghost in the Shell,” a science-fiction action drama set for release on Friday;
and “Baywatch,” a raunchy adaptation of the lifeguard television series.
In some ways, Mr. Gianopulos may take comfort in Paramount’s long-term history: The studio has battled its way back from the brink before.
New Chairman at Paramount Pictures Faces an Arduous Task -
By BROOKS BARNESMARCH 27, 2017
LOS ANGELES — Viacom has turned to one of Hollywood’s most seasoned
and respected executives, James N. Gianopulos, to revive its faded Paramount Pictures operation.