Read The Resignation Letter Of Digital Domain’s John Textor

You can read the resignation letter of former Digital Domain CEO John Textor below. In his final glorious act of assholery, Textor refused to accept any responsibility for his gross mismanagement that led to the closing of Digital Domain’s Tradition Studios. In his parting shot, he describes the company’s board of directors (who are tasked with the thankless job of cleaning up the mess Textor created) as uncompassionate and unwise.


To the Directors of Digital Domain Media Group:

I hereby resign as a director of Digital Domain Media Group, Inc. (the “Company”) effective as of the close of business on September 6, 2012.

As you are aware, I am in profound disagreement with the decision to close our animation and visual effects studio in the wonderful community of Port St. Lucie, Florida. The people of Florida welcomed us with open arms and we certainly owed them greater consideration. We were able to hire and train local residents and have them mentored by the very best of our industry. Our incredibly talented artists and filmmakers were building something truly special in Port St. Lucie, not just our favorite first film, The Legend of Tembo, but also our first home, Tradition Studios. I am deeply saddened and heartbroken by this decision.

I believe that each of you as directors, and specifically those on the Strategic Alternatives Committee, have tried to do your very best to deal with the unfortunate consequences of our life as a public company. I also know that, in making your decision, you relied on the counsel of highly qualified advisors and legal representatives. That said, I think the outcome was not only unwise, but also without compassion. While I understand and support the effort to streamline costs, I believe this to be the wrong path. It is never a bad time to reconsider a bad decision. This can be reversed immediately.

Although I will no longer be a member of the Board, I intend to stay actively involved as a shareholder of the Company, and a believer in Florida. This decision will hopefully give me greater flexibility to independently consider other strategic alternatives for the Company, the Port St. Lucie studio and the people affected.

God bless you and thank you for your service.

Sincerely,

/s/ John C. Textor


  • Nate

    I only see him blaming them for the decision to close the studio in Florida. Not for the run on the stock.

  • anonymous

    I was expecting the short version…

    SO LONG SUCKERS!

  • http://www.elliotelliotelliot.com Elliot Cowan

    Good to see he believes in Florida.
    It does exist, after all.
    Unlike his sense of decency.

  • wow

    “We were able to hire and train local residents”
    I guess free student labor = hire now.

  • http://mediocremind.thecomicseries.com J. Gibbs

    And there it is, the final promise that John Textor will never work in this industry again.

    It’s too bad he wont have to care, however. Not with how much money he managed to extort with his sleazy practices, slave labor, and complete lack of ethics anyway.

    The words between the lines are pretty clear, at least to me:

    “Suck it, losers! I got mine!”

    Pretty much sums up his tenure at DD, doesn’t it?

  • Robert Schaad

    No golden parachute, I hope.

    • Aaron B.

      I don’t know about the parachute, but according to Yahoo! Finance, Textor was paid $7.72 million ($5.59 million exercised) last fiscal year as Chief Exec. Officer and Chairman of Digital Domain.

      • Jonathan

        Lovely, so he gets to leave with millions dollars while other hard working decent folks leave with nothing. That is dispicable.

  • Mike

    I hope there’s a special circle in Hell for the John Textors of the world.

    • Liam

      He’ll just start from one circle, dropped to the next appropriate level, and then fish hooked back to the previous level when all his corresponding circles have had their fun.

  • http://animationanomaly.com Charles Kenny

    An apology would open the door to litigation on the part of the shareholders. No company director in their right mind ever accepts responsibility for bad decisions for precisely this reason.

    Only courts have the power to ascertain whether he acted maliciously or not.

    • Funkybat

      It would be nice if, just once in a while, one of these corporate crooks screwed up and let slip in their resignation letter some kind of admission of guilt, so the claims could come fast and furious.

    • http://mousetracksonline.com/blog.php Giovanni Jones

      Somehow I have a feeling that this is the kind of person who, legal issues or not, will never claim any admission of wrongdoing. It’s classic narcissistic behavior.

      No matter if it’s a relative, a co-worler or an executive, the narcissist always has an excuse, someone to blame or any of a number of ways to justify abhorrent behavior.

      Sad thing is… there are still folks like that who have not resigned, been let go or been found out. And when they are, they’ll never face it.

      I’ve known people who went into dementia rather than look at who they really were and what they have done.

  • Christy

    A very tragic day everyone…. We are all heartbroken by this mess. Damnit, friends are going to have to leave now, not know how to feed their kids, or pay their rent… Someone should have said something months ago. It went from a ‘family company’ to ‘we don’t give a shit’.

    • Trevor

      The animation community is with you. Keep an eye out. I know for a fact that at least two studios will be coming to Port St. Lucie next week to meet with you guys. Get your stuff together. You’ll be back on your feet very soon.

  • Steve M.

    Quite a fitting end to his reign as CEO.

  • Mac

    What is it with Hollywood and animation’s obsession with moving to Florida? Florida comes up a lot in the history of animation. Is there some unique confluence of tax breaks and property values or something?

    • Glen

      No Unions.

      • Funkybat

        Sadly, I suspect Glen hit the nail on the head. Of course, there are plenty of other anti-union, “right to work” type states, but most of them are even less appealing for creative, sophisticated people to have to live in than Florida is.

        I suspect FL keeps coming up because it has what many believe is “nice” weather, there are beaches, and a more vibrant arts scene than some of the other places that fit the “anti-worker” bill.

        • Bobby B

          What evil role does Florida have to play in this?
          It’s a state.
          Why can’t animation be done in Florida?
          Why does it have to be LA or NYC?
          If, God forbid, Laika fails will you blame Oregon?

        • Dan

          Don’t know why there’s so much hate for FL. It’s Textor, the goofy guy in the buccaneer outfit, not the land of buccaneers that’s to blame.

    • derik

      There’s also no income tax in Florida.

      Florida is by far the crappiest place to live anyways, weather sucks too. If you want to live in Florida, just go to Camden, New Jersey, it’s exactly the same with just as much crime and crappy roads/drivers.

      Oh and the police will hit on anything with tits and legs.

  • Skip

    Glad that Textor is out, feel sorry for all of the staff. I suppose you could call this the best bad Animation news of the year.

  • http://www.fooksie.com Fooksie

    @Mac, yes. Property is more of a bargain, and there is no state income tax,making Florida a good place to start a business. Although you will be living in the “Land of the Hanging Chad”. : )

  • Baron Lego

    And should Textor start up another animation-related business a year or two from now, will the animation community as a whole stay the hell away from him?

    The sad truth is, probably not.

  • Charles M.

    Is this guy for real? I have never seen such a level of bitchassedness, excuse my language. All of these people losing their, some many families dislocated and he manages to punk out, crispy clean. Where is the line for these corporate crooks, man? They place blame on every but themselves….

    I hope the IRS make him go broke…

  • andy

    He should be sent to prison for theft.

  • Ass

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