In more than four years at the helm, Vogt (left) was unable to convert his IP strategy into steady growth, according to industry sources. The Gores Group, which owns Imagine Communications, has hired former high tech exec Tom Cotney (right) to replace Vogt.
After a four-and-a-half-year run, Charlie Vogt is stepping down as CEO of Imagine Communications and being replaced by Tom Cotney, the former CEO of mBlox, it was announced Tuesday evening.
According to the announcement, Vogt will join The Gores Group, the private equity firm that owns Imagine, as a senior adviser and “work closely” with Cotney.
Vogt was a vocal champion of transitioning media production and distribution to IP and the cloud, and, though he had some successes, notably a big sale to Disney, he was unable to turn the strategy into steady growth, industry sources say.
The Los Angeles-based Gores bought Imagine (then a division of Harris Communications) in February 2013 in a deal valued at around $225 million.
Vogt was named CEO in July 2013, replacing Harris Morris, a holdover from Harris Communications.
“Over the past four years, Imagine has transformed the media industry by becoming the first company to deliver on its vision of an all IP/cloud network for playout and master control,” said Gores Chairman and CEO Alec Gores in a prepared statement.
“I want to acknowledge and personally thank Charlie for his leadership in driving this massive transformation and placing Imagine’s technology at the forefront of the industry.
“Sharing our vision of where the industry is heading, Tom is uniquely qualified to build on this momentum and I welcome him in his new role.”
Cotney spent 20 of his 30-year career partnering, selling to and competing in the telecommunications and mobile technology industries.
He served as general manager of the communications sector at IBM Global Services and has been a CEO and board member for a number of privately held companies.
Cotney was CEO of mBlox, a messaging company, in July 2016, when it was sold to CLX Communications.
Cotney will also join the board of Imagine.
“Imagine Communications could not be better positioned than we are today to take market-share across the ad management, playout, networking and distribution markets, particularly as we continue to guide the industry transition to IP and the cloud,” said Vogt in a statement.
“We are pacing to have our best quarter of the year, and Friday we signed a strategic advertising management system contract to accelerate the emerging ATSC 3.0 multi-services market. I look forward to supporting Tom Cotney is his new role.”