Mark Rachesky, the top shareholder at Lionsgate, has been named co-chairman of the studio, reports Deadline.com. He shares the chairman post with CEO Jon Feltheimer. Harold Ludwig had been the co-chair, but still remains on the board.

Rachesky was key in stopping activist shareholder Carl Icahn from taking over the company. He has a history with Icahn, having served as his chief investment officer before launching his own investment fund.