Lionsgate Re-Ups CEO Feltheimer3 Jun, 2013 By: Erik Gruenwedel
Lionsgate June 3 said it has signed CEO Jon Feltheimer to a new employment contract through May 2018.
Feltheimer — a 13-year veteran with Santa Monica, Calif.-based Lionsgate — weathered the minimajor’s protracted hostile takeover issues with former investor Carl Icahn, and last year helped spearhead the acquisition of Summit Entertainment and its “Twilight” film franchise.
In addition, Lionsgate launched “The Hunger Games” franchise and diversified of its television business, which includes 28 series on 20 different networks, including “Mad Men,” “Weeds,” “Anger Management,” “Nashville” and “Orange Is the New Black” for Netflix.
Lionsgate's market capitalization has increased from $80 million to nearly $4 billion Feltheimer's tenure as CEO. The studio reported a profit of $232 million for the fiscal year, compared with a loss of $39.1 million during the previous fiscal year. Revenue topped $2.7 billion.
“We are pleased to … extend Jon's tenure as CEO, providing Lionsgate with extraordinary continuity as he and [vice chairman] Michael Burns continue to grow the company into a next generation global content leader,” Lionsgate board chairman 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.”
Burns, co-chief operating officers Steve Beeks and Brian Goldsmith and general counsel and chief strategic officer Wayne Levin all signed new long-term agreements with Lionsgate during the past year.