Lewis Coleman, a DreamWorks Animation board member and former vice chairman and cfo of Bank of America, has been named president of DreamWorks Animation.
Coleman, reporting to DreamWorks Animation ceo, Jeffrey Katzenberg, will lead the company's efforts with Katzenberg and coo Ann Daly, as it continues to produce two computer-generated animated movies per year and expands its business activities in direct-to-video movies, a growing licensing business, Broadway musicals and live entertainment. All execs who previously reported to Katzenberg will now report to Coleman.
Honoring the company's policy of maintaining an independent majority on its board, Coleman has stepped down as a director, as well as from his post as chairman of its audit committee. Karl von der Heyden, former vice chairman/cfo of PepsiCo and a recently elected DreamWorks Animation board member, becomes audit committee chair. Coleman will stand for re-election as a director on the DreamWorks Animation board when there are a sufficient number of independent directors on the board to assure continuation of an independent majority.
"For the past 18 months, since before our company went public, Lew has been a close and invaluable advisor to Jeffrey, Ann and me," said Roger Enrico, the company's chairman. "As we now enter our second year as a public company and embark on new and exciting plans for growth, the addition of Lew's extensive business leadership experience offers a major enhancement to what I believe is already an excellent senior executive team which includes cfo Kris Leslie and general counsel Kathy Kendrick, in addition to Jeffrey, Ann and now, Lew."
Katzenberg added, "Lew's many years of experience in a public company context and his intimate familiarity with DreamWorks Animation make him the ideal person to help take us forward. I look forward to working with him as we build and deliver value for our shareholders."
Coleman was chairman of Banc of America Securities Llc., a subsidiary of Bank of America Corp. in San Francisco, from 1995 to 2000. He previously served as vice chairman of the board of directors and cfo for Bank of America. Before that, he was head of the World Banking Group, assuming that position after he earlier directed its capital markets where he was responsible for all trading activity. He joined the bank in 1986 as chief credit officer for the group.
Before BofA, he spent 13 years with Wells Fargo and Co. in a variety of wholesale and retail positions, completing his career there as chairman of the credit policy committee.
DreamWorks Animation's board of directors also includes: Roger Enrico, chairman of DreamWorks Animation SKG, Inc.; Katzenberg, ceo of DreamWorks Animation; Paul Allen, chairman of Vulcan Inc.; David Geffen, co-founder of DreamWorks; Mellody Hobson, president of Ariel Capital Management; Nathan Myhvrold, ceo of Intellectual Ventures; Howard Schultz, chairman/chief global strategist of Starbucks Corp.; Meg Whitman, president/ceo of eBay and Karl von der Heyden, retired vice chairman/cfo of PepsiCo, Inc.
Glendale, California-based DreamWorks Animation (www.dreamworksanimation.com) is principally devoted to developing and producing computer-generated, or CG-animated, feature films.
