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2 months ago
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Michael Engleman, Chief Marketing Officer for Paramount+ Domestic and Paramount+ with Showtime, will be leaving Paramount Global later this month. He just announced his departure in an internal memo. (You can read it below.)
Co-CEO George Cheeks revealed in June that $500 million in cost reductions have been identified as Paramount Global, carrying a $14B debt load, is looking to improve its balance sheet. As Deadline reported at the time, that means more layoffs for a company that has already been through considerable de-layering, restructuring and staffing cuts since the 2019 close of the Viacom-CBS merger.
Workforce reductions were expected to begin this summer, with chatter intensifying over the last few days that they could come as soon as next week, with Aug. 13 rumored as a potential date. Corporate and marketing have been among the areas most likely to be impacted, and Engleman’s exit is part of a consolidation of marketing teams across Paramount aimed at eliminating redundancies and maximizing efficiency via streamlining.
As CMO, Engleman oversees consumer marketing, strategy, partnerships, lifecycle marketing, customer care, social and creative execution for all U.S. campaigns, reporting to Domenic DiMeglio, EVP & CMO of Paramount streaming.
“For me, this marks the end of my third chapter at Paramount as I actually started my career at MTV many years ago,” Engleman said in his farewell note to staff. “The place keeps drawing me back. While many things in this white-water-raft-ride of a business have changed, there’s one very important thing that has remained a constant. Paramount is a place that encourages visionaries to take smart risks and do incredible things.”
Engleman joined Paramount Global in July 2019 as CMO & Global Brand Director of Showtime Networks. Before that, he served as CMO for TBS and TNT and as EVP, Marketing, Digital and Global Brand Strategy for Syfy and Chiller.
Here is Engleman’s email:
Hi team.
I’ve got news. Later this month I will leave Paramount Global, bringing this incredibly fortunate – and might I add – wildly fun chapter of my career to a bittersweet close.
In notes like this, often we describe our time together as an honor and privilege. And in this case, it’s truly been just that. Serving as the CMO to both Paramount+ Domestic and SHOWTIME has been the honor. The privilege, however, has been working alongside you, with all your boundless imagination and creativity, and your inspiring capacity for excellence.
In the face of incredible change, your ingenuity was rocket-fuel that propelled great brands and new businesses. Launching new hit titles like Yellowjackets or The Chi? No problem, you crushed it. Sending-off venerable trailblazers, like Homeland, Billions, Shameless? You made an art form out of it. Create streaming juggernauts out of Super Bowl LVIII or Champions League? Yep, also you. Break a few subscription-records with reimaginations like Dexter, Halo or Frasier…no problem. You get the point. You’re special. From the commerce to the art, you’ve always founds ways to beat the odds.
And I’ve no doubt you will continue to win.
For me, this marks the end of my third chapter at Paramount as I actually started my career at MTV many years ago. The place keeps drawing me back. While many things in this white-water-raft-ride of a business have changed, there’s one very important thing that has remained a constant. Paramount is a place that encourages visionaries to take smart risks and do incredible things.
I’m excited to see how you carry that spirit into the future.
I’ll be cheering for you from afar, grateful to have been arm and arm for as long as we were.
Thank you for the incredible work, and more importantly, the friendships.
Best, Michael
Chief Marketing Officer
Paramount+ Domestic and SHOWTIME
