Joe Drake Leaving Lionsgate, Adam Fogelson to Replace as Motion Picture Group Chair

variety.com:

Rebecca Rubin Film and Media Reporter Adam Fogelson is replacing Joe Drake as chair of Lionsgate‘s motion picture group. Drake reportedly initiated the transition and will be working with Fogelson over the coming months on succession plans.

Drake, who was named co-chair of Lionsgate in 2017, will be leaving the company. He’s departing after leading the studio to its first billion-dollar year since 2019, thanks to commercial winners like “John Wick: Chapter 4” and “Hunger Games: The Ballad of Songbirds and Snakes.” “Despite unprecedented disruption over the last few years, we built a team that thrived throughout and achieved everything I could have imagined at Lionsgate,’ Drake said in a statement. “Having worked side by side with Adam for the past 18 months, he is the perfect choice to lead the motion picture group forward to even greater heights.” Drake served as Lionsgate’s co-chief operating officer and motion picture group president for five years before leaving to launch Good Universe with Nathan Kahane in 2012.

He rejoined Lionsgate in 2017 and shepherded hits like “Knives Out” and the “Saw” franchise as well as bombs like the Taron Egerton-led “Robin Hood” and Roland Emmerich’s “Midway.” In addition to box office, Drake also prioritized alternative distribution strategies — including the licensing or sale of “Shotgun Wedding” to Amazon, “Love at First Sight” to Netflix and “Puppy Love” to Amazon’s Freevee label. “Joe has been a great partner and a respected team leader, a truly entrepreneurial executive with one of the best business minds in the industry,” said Lionsgate CEO Jon Feltheimer. “We are very fortunate to have Adam Fogelson, one of Hollywood’s most accomplished and innovative film executives, to.