October 9th 2025.
Richelieu Dennis, one of the co-founders of the renowned Black ad firm Group Black, has recently stirred up some controversy within the company. According to Business Insider, Dennis has requested the removal of the entire board, including his fellow co-founder Bonin Bough, due to allegations of overspending and mismanagement.
This bombshell revelation came to light when Dennis sent a letter to the board on October 6th, expressing his concerns and demanding the removal of all five members. In the letter, he accused the board of financial and structural mismanagement and breach of fiduciary duty. As someone who holds a 10% stake in the company, Dennis also requested a special shareholders' meeting to vote on the removal of the board.
Dennis' actions come more than a year after he stepped down from the Group Black board in August of 2024. The company was launched in 2021, in response to the George Floyd protests, with the aim of directing advertising dollars towards Black-owned outlets. However, according to Dennis' letter, the company has been making extravagant expenditures that are not directly related to its operations while neglecting payments to certain vendors and business partners.
In addition, Dennis also stated that the board hired lawyers in an attempt to defend themselves against payment disputes, which he deemed as wasteful. He also criticized the board for failing to appoint competent directors to oversee the company.
The tension within Group Black has been mounting, especially after lawsuits were filed by Essence Communications and Afropunk Worldwide in October of 2024. Both companies claimed that Group Black owed them a significant amount of money and had misused funds to benefit the company and Holler, a messaging startup founded by former CEO Travis Montaque. Moreover, two companies under Dennis' Sundial Media and Technology Group have also been involved in legal disputes with Group Black.
In response to Dennis' allegations, Group Black released a statement labeling them as false and defamatory. The company maintained its integrity and focused on advancing its mission and business for the sake of its team members and shareholders.
However, it is evident that the company has been facing some internal turmoil over the past year, with a series of executive departures, including Montaque quietly stepping down as CEO in the summer of 2024. The group also went through a rebranding process, changing its name to Portrait Media Group in September to reach a broader audience amidst corporate pullbacks from diversity, equity, and inclusion commitments.
This recent turn of events has caused quite a stir within the business world, especially since it involves a prominent Black-owned company. It remains to be seen how the situation will unfold and what the future holds for Group Black and its mission.
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