Lions Gate CFO Keegan to Retire, Barge to Succeed
By Nathalie Tadena
Lions Gate Entertainment Corp. (LGF) said Chief Financial Officer James Keegan, a 25-year company veteran, will retire next month and will be succeed by former Viacom Inc. (VIA, VIAB) CFO James Barge.
The movie studio said Mr. Keegan will remain as a consultant until Jan. 3 to assist with the transition to his successor. Lions Gate noted that Mr. Keegan led the company's financial team during a period in which it continues to significantly delever its balance sheet.
Mr. Barge, whose appointment is effective Oct. 1, was Viacom's financial chief from 2010 to 2012 and previously served as the media company's controller. Prior to Viacom, Mr. Barge spent 13 years at Time Warner Inc. (TWX), ultimately serving as its controller and chief accounting officer.
Lions Gate took on the big dogs in Hollywood last year with the first in the young-adult dystopia series "The Hunger Games" and the conclusion of the "Twilight" movies, which it acquired when it bought independent studio Summit Entertainment. The studio also produces popular TV programming.
Last month, Lions Gate reported it swung to a fiscal first-quarter profit as fans continued to watch the last of the " Twilight" series and other Lions Gate movies and TV shows from the comfort of their sofas.
Shares closed at $35.45 and were inactive premarket. The stock has more than doubled since the start of the year.
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