NEW PRESIDENT AT DREAMWORKS.Byline: Greg Hernandez Staff Writer GLENDALE - DreamWorks Animation SKG SKG Stichting Kwaliteit Gevelbouw (Dutch) SKG Spielberg, Katzenberg,and Geffen (DreamWorks Studios) SKG Thessaloniki, Greece - Thessaloniki (Airport Code) SKG Smith and Kraus Global , the studio that was behind such hits as ``Shrek 2'' and ``Madagascar'' but has suffered some setbacks on Wall Street, announced Monday that Lewis Coleman has been named president. Coleman, former vice chairman and chief financial officer of Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , will report to CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jeffrey Katzenberg, and all other executives in the company will report to Coleman. ``DreamWorks Animation is a great company and a world-class organization with an unparalleled work product,'' Coleman said in a printed statement. ``The best is yet to come from the company, and I'm pleased to be able to contribute in my new role.'' DreamWorks Animation Chairman Roger Enrico called Coleman ``a close and invaluable adviser'' even before the company went public in October 2004. ``As we now enter our second year as a public company and embark on Verb 1. embark on - get off the ground; "Who started this company?"; "We embarked on an exciting enterprise"; "I start my day with a good breakfast"; "We began the new semester"; "The afternoon session begins at 4 PM"; "The blood shed started when the partisans 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,'' Enrico said in a statement. DreamWorks is now producing two animated feature films each year, including this fall's ``Wallace & Gromit: The Curse Curse Ancient Mariner cursed by the crew because his slaying of the albatross is causing their deaths. [Br. Poetry: Coleridge The Rime of the Ancient Mariner] Andvari king of the dwarfs; his malediction spurs many events in the of the Were-Rabbit,'' which has a so-so domestic box office gross to date of $55 million, leading to a third-quarter loss last month. DreamWorks had already suffered through first-quarter earnings well below Wall Street expectations after executives admitted that they had been far too bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish about continued home-video sales of ``Shrek 2,'' which failed to bring in anticipated sales revenue during the quarter. The company's two 2006 releases are to be ``Over the Hedge,'' set to bow in May, and ``Flushed flush 1 v. flushed, flush·ing, flush·es v.intr. 1. To turn red, as from fever, embarrassment, or strong emotion; blush. 2. Away,'' which has a fall release date. Its activities are expanding to direct-to-video movies, a licensing business, Broadway musicals and live entertainment. Coleman, a member of the company's board, is stepping down as a director because of DreamWorks Animation's policy of maintaining an independent majority on its board. When there are enough independent directors on the board to assure continuation of an independent majority, he can stand for re-election as a director. Shares of DreamWorks Animation dropped 52 cents Monday to close regular trading at $24.73 per share on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Coleman's appointment was announced after the close of the market. Greg Hernandez, (818) 713-3758 greg.hernandez(at)dailynews.com |
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