Universal Elevates Abhijay Prakash to Exec VP for Business Development

Finance expert will head team focused on new initiatives, strategic planning

Abhijay Prakash has been promoted to executive vice president of Universal Pictures' business development and strategic planning division, the studio said Wednesday. 

Prakash has been a strategic business advisor for the motion picture group, overseeing a team responsible for researching, evaluating, negotiating and executing new ventures and expanding current revenue streams.

Universal Pictures president Jimmy Horowitz and president and chief distribution officer Peter Levinsohn, to whom Prakash reports, made the announcement.

"Abhijay's role is one that touches all parts of our business and it requires someone who can juggle a tremendous amount of information while also navigating business trends and relationships with people operating in complex global markets,” said Horowitz. "I have come to rely heavily on Abhijay's advice and support.”

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Prakash's group is charged with creating the studio's annual strategic plan, compiling and analyzing greenlight materials, managing film financing relationships and a wide range of initiatives. He also collaborates with peers across NBCUniversal and manages and monitors key external relationships with film joint ventures and strategic partners.