On the heels of the release of underperforming "Faster," there's a shakeup at the helm of box office challenged CBS Films — a changing of the guard that also has repercussions for Lionsgate.
Wolfgang Hammer was named Chief Operating Officer, CBS Films, the studio announced on Wednesday night. He replaces Bruce Tobey.
Hammer joins CBS Films from Lionsgate, where he served as Executive Vice President, Motion Picture Group.
The move comes after CBS Films had its third consecutive disappointing release with the soft opening for "Faster." The Dwayne Johnson action film managed to rack up just $12.2 million at the box office over the Thanksgiving holiday.
Medical drama "Extraordinary Measures" and romantic comedy "The Back-Up Plan" also failed to generate much heat at multiplexes this year.
Prior to Lionsgate, where he began as Vice President, Production, Hammer worked at Media Rights Capital.
Tobey will be leave the company at the end of the year.
"Bruce got this division up and running, and established for the days ahead," CEO Amy Baer said in a statement. “I have great respect and gratitude for his talent, commitment and his contributions to CBS Films. We wish him the best in all of his future endeavors."
Hammer’s responsibilities will include acquisitions, finance, legal and business affairs, including co-productions and international distribution. Hammer will report to Baer.