Lionsgate Nominates Rachesky to Board of Directors Slate9 Jul, 2009 By: Billy Gil
Lionsgate will name Dr. Mark H. Rachesky to its slate of board of directors nominees, which will be voted on at the company’s annual shareholders meeting this year.
MHR Fund Management, of which Rachesky is co-founder and president, has been a Lionsgate shareholder for more than five years, currently holding about 19.8% of Lionsgate’s common stock.
“Dr. Rachesky is an investor who shares our vision for continued growth and diversification,” said Lionsgate co-chairman and CEO Jon Feltheimer and vice chairman Michael Burns. “He brings a strong independent voice to our board as well as leadership in the wireless and digital media space that will be invaluable to our continuing evolution as a next generation studio.”
More board nominee announcements are forthcoming, the company said.