Chief Marketing Officer Anne Globe is stepping down from DreamWorks Animation to start her own consulting business, Chief Executive Officer Jeffrey Katzenberg said in a memo to staff on Monday.
Globe has been with the studio for 17 years. Her departure comes in the wake of the box office disappointment of the racing film "Turbo," which cost $135 million to produce, but has only brought in $125 million worldwide.
In his message to staff, Katzenberg stressed the high-points of her association with the company, hailing her work overseeing the marketing of feature films like "Kung Fu Panda" and "Shrek," television shows, Broadway productions and awards campaigns.
"On a personal note, Anne, you’ve been a talented and creative executive, partner and friend to me," Katzenberg wrote. "Your grace and strength are only outshined by your generosity and professionalism. You’re a class act and I hold you in the highest regard. I hope to continue our friendship for many years to come."
As part of her exit agreement, stock options that were given to Globe prior to Nov. 2013 will vest and she will receive a lump-sum payment equal to the salary that she would have earned through January 1, 2014, according to public filings.
On Monday, DreamWorks Animation also announced that it will offer $300 million in senior notes that it plans to use to pay off debt.