Former SXSW President Claims Forced Exit by Penske Media: 'Not My Decision'
Former SXSW President Hugh Forrest has publicly stated that parent company Penske Media forced him out of his position during a recent executive restructuring. This contradicts Penske's official statement about his departure.
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"Leaving SXSW was definitely not my decision," Forrest stated. "I put my heart and soul into this event for more than 35 years—and I was looking forward to leading several more editions." He expressed continued support for the Austin team, emphasizing the importance of SXSW's positive impact.
Penske Media, which owns a controlling 51% stake in SXSW, claims Forrest left after learning he wouldn't receive the CEO role and would instead report to newly appointed director Jenny Connelly. The leadership change coincides with the departure of 11 other SXSW employees, including key positions like the head of communications and chief technology officer.
While The New York Times reported that SXSW failed to meet Penske's "ambitious" goals, the company has highlighted positive performance metrics, including record-breaking sponsorship revenue for the year.
Penske Media, which acquired its initial 50% stake in SXSW in 2021 before increasing to 51% two years later, also owns major entertainment industry publications including Variety and The Hollywood Reporter.
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