Fifth Season Co-CEO Chris Rice Exiting Company

No more co-CEOs for production company Fifth Season: Chris Rice (pictured, left) is exiting, leaving Graham Taylor (right) to steer the ship solo.

Rice informed his staff via email on Friday; The Hollywood Reporter obtained a copy, which is reprinted below. Rice, whose contract is up at the end of the year, founded Endeavor Content, now known as Fifth Season, with Taylor in 2017.

“I will be choosing to start a new chapter, leaving the company in the immensely capable hands of Graham as sole CEO,” Rice wrote. “Having shepherded the continued growth of the business for four years since spinning out of Endeavor, it is time now for me to move on to my next entrepreneurial season.”

Fifth Season is the producer of the Apple TV+ series Severance, hence this line from Rice’s memo: “Even though a handshake is available upon request, I hope for years ahead of collaborations — albeit in a different form.”

Rice’s email in full reads:

Dear Colleagues and Friends,

15 years ago, after running my own production business, I started a journey at WME working with Graham. We were a small band of producers, sales agents and distribution execs trying to innovate on how film and television could be produced,financedand distributed from inside a talent agency. We believed early on in a few things that seem obvious today: that there were ways creatives could have more ownership of their rights; that storytelling could come from a more global set of voices; and that the mediums of film and television would start to merge creatively.

It has been a journey I could never have imagined — a journey leading me to share with you today that I have decided that at the end of this year, when my contract is up for renewal, I will be choosing to start a new chapter, leaving the company in the immensely capable hands of Graham as sole CEO. Having shepherded the continued growth of the business for four years since spinning out of Endeavor, it is time now for me to move on to my next entrepreneurial season.

None of this would have been possible without the extraordinary backing from Ari Emanuel, Mark Shapiro and Endeavor that led to Graham and me founding Endeavor Content in 2017. It was the birth of what I still believe to be the premier independent television studio, film producer and television distributor in the world. This led us to our second season, Fifth Season, with the continued backing of Endeavor and the investments from CJ ENM and Toho Studios — two Asian content powerhouses. I am so grateful for Miky, Hiro, Pious and Koji’s support of the business.

There have been so many shows and films along the way that I am deeply proud of, but our goal of backing distinctive, unique, authored stories certainly culminated these past few months withSeverancebecoming the second-most-nominated season of television in 77 years of Emmy history, going on to win eight awards. This was an Emmy season that involved every single division and person at the company, with 36 total nominations across six series and films. It was an insanely proud moment for Graham and me, and I know for you all.

At Fifth Season, we have assembled in you the greatest groups of creatives, innovators, builders, boundary-pushers, passionate storytellers and enablers of great artists and talent. I feel immense pride in every brick laid at this incredible company and deep joy in having been able to walk this path with you and build bonds that I hope will last a lifetime.

My friendship and partnership with Graham has been profound and certainly one of the most enjoyable relationships of my life. His passion, taste and drive for the best of film and television is only surpassed by his love and generosity for the people he works with.

I won’t be going far away. I will remain an advisor to the company and continue working across some Fifth Season projects, while also re-embracing my producorial roots through a first-look deal with the studio.

I’ll be here in my current capacity through the end of the year, closing a chapter with deep gratitude. I can’t wait to see what’s ahead for Fifth Season with Graham at the helm and the incredible Kasee Calabrese at his side. I have no doubt that they and you will grow the business from strength to strength.

Even though a handshake is available upon request, I hope for years ahead of collaborations — albeit in a different form.

With deep love and gratitude,
Chris