Former South by Southwest (SXSW) President Hugh Forrest has revealed that Penske Media forced him out of his position during a recent executive restructuring.

Forrest, who dedicated over 35 years to the festival, directly contradicted Penske Media's narrative about his departure. While Penske claimed Forrest left voluntarily after being denied the CEO role and being asked to report to newly appointed director Jenny Connelly, Forrest stated: "Leaving SXSW was definitely not my decision."

The leadership change comes amid broader organizational shifts at SXSW, with 11 other key employees either leaving or being terminated, including the veteran head of communications and chief technology officer. These changes were announced by Connelly during a video call last Friday.

Despite reports from The New York Times suggesting SXSW failed to meet Penske's "ambitious" goals for both current and 2024 projections, Penske has emphasized positive performance metrics, particularly noting "the highest ever sponsorship revenue in the history of the company."

Penske Media, which owns major entertainment industry publications like Variety and The Hollywood Reporter, acquired a controlling interest in SXSW through a strategic investment process. The company initially purchased a 50% stake in 2021, later increasing it to 51% two years after.

Forrest expressed continued support for the festival's future, stating, "I will be rooting big time for the Austin team going forward. The city, the country, the world needs the positive energy SXSW has traditionally provided, needs it now more than ever."

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