Stovitz spent 18 years at CAA before joining Overbook, where he ran the company alongside Smith, his wife, Jada Pinkett Smith, and James Lassiter. Stovitz produced "The Karate Kid," a box office hit that starred Smith's son, Jaden, and Jackie Chan.
“Ken Stovitz is an invaluable addition to our senior management team,” Paradigm Chairman and CEO Sam Gores said in a statement. “He is a savvy executive, has incredible taste, an excellent reputation and we share a vision for the agency’s future, which he will be a key architect in building.”
“Sam is giving me the opportunity to work side by side with him and the management committee to grow the agency at a time when the cycle is shifting in favor of the artist,” Stovitz said in a statement. “The creators of entertainment art will have a much stronger say in their destiny and I am very excited to get started.”