Following a Creative New Zealand-funded review of the theatre earlier this year, Jeremy Smith, from Sydney, and Lara Macgregor, from Christchurch, were yesterday appointed to manage the theatre's operational and artistic activities.
"I feel right at home already. It's a fabulous old building. Just fabulous," Mr Smith (39) said yesterday.
"It's a return to where I've come from.
"It's also an opportunity to live and work in Dunedin, which has always interested me.
"Dunedin people seem to have an extraordinary feeling of warmth and support for the Fortune."
Mr Smith worked as an actor, dancer, singer and director, before spending the past 12 years managing the Sherman Galleries in Sydney.
"Lara and I have got the opportunity to move the whole place onwards and upwards.
"It's a return to the artistic director and manager system to work in tandem and make it into a place which produces must-see shows that people really want to attend.
"We want to take it as far as is physically possible.
"It's a relationship we are both keen to make work. They're two very different roles and both sides are incredibly positive."
The Fortune has operated without an artistic director since Martin Howells resigned in 2002.
Ms Macgregor (41) has international experience as an actor and director, after completing a diploma in directing at NIDA, before being appointed associate artistic director at the Court Theatre last year.
She will move to Dunedin to take up her new position in early December.
"I'm really looking forward to getting to Dunedin and embracing quality New Zealand drama and taking it out to the regions.
"It's all about putting on great shows," she said from Christchurch yesterday.
"When I was just a spring chicken, the Fortune was one of the main professional theatres in the country and I'm really excited about being part of it. I can't wait to get there."
Fortune Theatre Trust chairman Peter Brown said the pair would bring a special dynamic to the theatre.
"Lara brings to the Fortune a strong understanding of artistic leadership and will join Jeremy, who has a extensive background in arts administration.
"The theatre is having a great year and we are looking forward to the future positively."
Mr Brown also praised the contribution of interim manager Karen Elliot who, over the past nine months, had put the theatre back on a solid footing after several difficult years.
"Her commitment and ability have turned the Fortune around in a very short space of time and we are in her debt.
"We hope she will maintain a close association with the Fortune in the future."
