Pact will see CEO remain through 2018
Jon Feltheimer has signed a new contract to remain as chief executive officer of Lionsgate through May 2018, the studio said Monday.
He has been in charge of the studio for 13 years, helping it rise from a distributor of genre films like "Saw" to become one of the major players in the industry. He also oversaw a 2012 merger with Summit Entertainment.
Armed with Summit's "Twilight" series and its own in-house "Hunger Games" franchise, Lionsgate has carved out a niche for itself in the young adult entertainment space. It will continue to expand into that arena with the upcoming release of "Divergent" and "Ender's Game," both of which are based on literary properties with a rabid teen fan base.
Lionsgate has also made inroads into television, producing such shows as "Mad Men" and "Anger Management."
Lionsgate's market capitalization has increased from $80 million to nearly $4 billion during Feltheimer's tenure.
His previous contract was due up in 2014.
"We believed in Jon's early vision of how to best position Lionsgate to grow and adapt to a rapidly changing industry,"Lionsgate Chairman of the Board Dr. Mark Rachesky said in a statement. "He has successfully executed on a business plan which required discipline, patience and investment in all of the Company's key business segments in order to create highly valuable content and long-term value for shareholders."
Feltheimer will keep his management team in place. Vice Chairman Michael Burns, Co-Chief Operating Officers Steve Beeks and Brian Goldsmith and General Counsel and Chief Strategic Officer Wayne Levin have all signed new long-term agreements with the studio during the past year.
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