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Tuesday, Aug 9, 2022
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DreamWorks Animation Chairman Resigns

Roger Enrico resigned on Thursday as chairman of DreamWorks Animation SKG Inc. after serving in the position since the Glendale studio went public in 2004. Mellody Hobson, a DreamWorks director who is president of Chicago mutual fund company Ariel Investments LLC, was named to replace Enrico in the non-executive position. No reason was given for Enrico’s sudden departure, and Chief Executive Jeffrey Katzenberg issued a statement thanking Enrico, a former PepsiCo chairman and chief executive, as “an invaluable leader” who was key to the studio’s success. However, trade publication Variety noted that the resignation followed a deal in which Dreamworks’ co-founder David Geffen swapped his voting shares for non-voting stock, tightening Katzenberg’s control over the company. Following the move early this month, Katzenberg had 61 percent of voting stock, giving him an iron grip on the studio. DreamWorks Animation shares closed up 35 cents, or more than one percent, to $20.86 in trading on the Nasdaq. Bailey Brewer

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