Lionsgate said in a regulatory filing today that Mark Rachesky, the former Carl Icahn protege and the mini-major’s largest shareholder, has been appointed co-chairman of the board, a title he will share with current CEO Jon Feltheimer. The move was finalized on Tuesday, according to the SEC filing; Feltheimer was re-appointed as the other co-chair. Rachesky has 37.3% of Lionsgate shares, making him by far its largest investor. He replaces Harold Ludwig as co-chair, though Ludwig remains on the board. Rachesky was Icahn’s chief investment officer for about a decade but left to start his own fund. Last year, he was considered a key player in keeping Lionsgate out of Icahn’s hands, increasing his stake in the company as Icahn’s challenge to Lionsgate’s management grew. Lionsgate and Icahn settled their longtime dispute last month, ending the corporate raider’s hostile takeover attempt.
Former Carl Icahn Protege Mark Rachesky Named Lionsgate Co-Chairman
What's Hot on Deadline