With Nikon’s takeover deal of RED now complete, new people are now running the company, with President Jarred Land and Founder Jim Jannard taking up roles as 'close advisors'.
Nikon Corporation announced today that, as of April 8th, it has successfully acquired 100% of the outstanding membership interests of RED.com, LLC (RED).
This we knew was coming. What we didn’t know was coming was the next bit. Here’s the PR:
“Upon RED becoming a wholly owned subsidiary, RED's President Jarred Land became a close Advisor to the company, along with RED's founder James Jannard. Keiji Oishi, of Nikon's Imaging Business Unit, assumed the role of CEO and Tommy Rios, Executive Vice President of RED, moved into the role of Co-CEO.”
This is kind of huge. RED has been successful for many reasons, and one of those interlocking components is that it has taken the modern tech CEO as embodying the fortunes of the company paradigm and run with it. Land, as Jannard was before him, is RED personified, and not having him there is going to be a huge change in perception of the company even if the products sail on regardless.
No more 3am breaking of news embargoes on Instagram for a start.
Here’s the official quote from Land, which for the moment looks like all we are getting. “By joining the Nikon family, a company that is known for the advanced technology that it has been cultivated over many years, I am confident that RED will bring a new era to the professional digital cinema camera market. It is an honor to be a part of this new chapter.”
Other official quotes from Jannard, Oishi, and Rios are below.
Rios’ presence will, of course, provide continuity at active board level. And Nikon emphasises once more that there will be no changes to RED's current product lineup, partners, and relationship with the dealers. RED will continue to support its policies with warranties, repair services, customer services, and overall product support.
“Nikon and RED will merge the strengths of both companies to develop distinctive products, while leveraging the business foundations and networks of both companies to expand the fast-growing professional digital cinema camera market,” concludes the statement.
All the same, twenty years on, it really does now feel like the end of an era. Hopefully the start of something exciting, sure, but it will be a different company that evolves and moves forward.
Here are those quotes…
"I believe it is my mission as the representative of RED to develop the market in a way that will pay respect to the corporate cultures of RED and Nikon," says RED CEO Keiji Oishi. "You can look forward to RED's future product development which will aim to meet and exceed the expectations of cinematographers around the world.”
"We are the pioneer in digital cinematography, and the synergy with Nikon will only help us to continue to evolve," says RED Co-CEO Tommy Rios. "We'll continue to deliver cutting-edge technology that no one has ever seen before. We remain committed to working together with the RED dealers around the world.”
Newly appointed RED Advisor James Jannard comments, "It is a proud moment for me to see RED, a brand that I have nurtured with passion for over 20 years, gain the opportunity to achieve new heights with the help of Nikon, a company that I also love."