Former Wanda executive Ye Ning has been appointed as CEO of Huayi Brothers Pictures, overseeing the studio’s film production, distribution and cinema business.
Ye has also been named vice president of parent company Huayi Brothers Media Corporation. He was previously vice president of Wanda Cultural Industries Group, overseeing Wanda Cinema Line and Wanda’s film production and distribution business.
Huayi Brothers Media is expected to soon announce a new role for the company’s co-founder and president, James Wang, who currently oversees all film and cinema operations. Wang founded the company with his brother Dennis Wang in 1994.
Huayi Brothers is one of China’s biggest studios with recent hits including Mojin – The Lost Legend, a co-production with Wanda and Enlight Pictures, which grossed $256m at the end of last year, and Guan Hu’s Mr Six, which grossed $137m. The company also operates a cinema line.
In a regulatory filing at the end of January, Huayi Brothers Media reported that full year profits for 2015 exceeded $136m and could rise to $164, a 20% increase on the previous year. Growth came from its film and TV activities, talent management and online ticketing services.
Wanda restructured at the end of last year to bring all it film assets into a new holding company, headed by former Microsoft and News Corp executive Jack Gao. Wanda Film Holding includes US exhibitor AMC Entertainment, Australian exhibitor Hoyts, Shenzhen-listed Wanda Cinema Line, production and distribution arm Wanda Media and the Wanda Qingdao Studios complex.