Ted Adams, the co-founder and longtime CEO of IDW Publishing, has stepped down from his role as CEO of IDW Media Holdings, with former Paramount TV chairman Kerry McCluggage set to succeed him.
Adams will take a sabbatical, but plans to return shortly in a more creative role at IDW.
Adams co-founded IDW in 1999 along with Alex Garner, Kris Oprisko and Robbie Robbins. Originally, the company was a creative services business. Prior to its purchase by DC Comics, Wildstorm maintained a creative services business. Those clients were going to be left in the lurch when Wildstorm gave up the creative services aspect upon becoming part of DC Comics. So IDW was formed to take over the former Wildstorm clients. Thus, right from the start, the company was a profitable business. Within a few years, IDW expanded into comic book publishing and now, almost two decades later, it's one of the most successful comic book companies, and has made significant inroads into the world of television, as well.
It's that television future that likely led to the hiring of longtime television executive McCluggage as the new CEO. IDW Media Holdings currently has Wyonnna Earp on Syfy (which was recently renewed for a fourth season). The company also have two major series orders from Netflix: V-Wars and a much-anticipated adaptation of Locke and Key. With IDW flourishing in television, McCluggage presumably will help the company position itself for even more expansion into that market.
This marks the latest in major changes at the top of IDW, as Editor-in-Chief Chris Ryall left the company earlier this year, with John Barber succeeding him in that role. It was just three years ago that IDW Publishing was renamed as IDW Media Holdings, with Adams being named CEO.
The comic book side of IDW has also made major waves recently, with the company striking a deal to create all-ages comic books featuring Marvel's superheroes.
(via The Hollywood Reporter)