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Bax Named Pixar CFO

Ann Mather will step down as evp and cfo of Pixar Animation Studios in May to devote more time to her family. She will be replaced by Simon Bax, 45, who has more than 20 years of financial operations experience, including more than seven years as cfo of Fox Filmed Ent.

"Ann has done a terrific job as Pixar's cfo during a major period of success at the studio, and she will be missed," said Pixar ceo Steve Jobs. "We are thrilled to welcome Simon Bax as our new cfo. With his talents and experience, it's hard to imagine a better cfo for Pixar as we enter a very exciting decade ahead."

"Working with everyone at Pixar during the last four years has been a wonderful experience," said Mather. "The company has an extraordinary pool of talent, a strong management team, and is set to continue to build on its phenomenal successes. It will be hard to leave, but I would like to devote the next few years to my two young children."

"I am delighted to be joining a company that I have long admired," said Bax. "The passion and focus that exudes from Pixar is exhilarating and I look forward to contributing to the studio's continued success."

Bax was cfo of Fox from 1994 through August 2001, where he was responsible for financial operations, information technology and strategic planning relating to worldwide production and distribution of all films produced by the motion picture group, as well as worldwide theatrical, video and television distribution, licensing and merchandising and music publishing. In addition, Bax oversaw the financial operations of Twentieth Century Fox Television, the network television production company, and Fox TV Studios. Total revenue for Fox Filmed Ent. grew from less than $1.5 billion when he joined to more than $4.5 billion when he left. Before joining Fox, Bax was evp and cfo of the Chiat/Day advertising agency group, based in Los Angeles, overseeing the operations and financial management.

Mather has more than 22 years of financial operations experience, including seven years with The Walt Disney Co. As srvp of finance and administration of its Buena Vista International theatrical division, she was responsible for all strategic planning, budgeting, forecasting and reporting for the division's European, Asian and Latin American operations. Mather has also held senior financial management positions at Paramount Pictures Corp. and Village Roadshow Pictures.

Emeryville, California-based Pixar has created and produced five of the most successful and beloved animated films of our time: FINDING NEMO (the highest grossing animated film of all time and this year's Oscar winner for best animated feature), MONSTERS, INC., A BUG'S LIFE, TOY STORY 2 and TOY STORY. Pixar's next two films are THE INCREDIBLES (November 5, 2004) and CARS (holiday 2005).