Lionsgate‘s Motion Picture Group Chair Joe Drake is exiting the studio. He’ll hand the reins to Adam Fogelson, who formerly lead both Universal Pictures and STX Motion Picture Group; Fogelson joined Lionsgate’s film group in 2022 as vice chair. This is now the third studio Fogelson will lead dating back to 2009.
Drake returned to Lionsgate in 2017 after starting Good Universe Pictures, which Lionsgate acquired from Drake. He most recently oversaw Lionsgate’s first $1 billion year at the global box office since 2019, thanks in large part to new “John Wick,” “Hunger Games,” and “Saw” films. Drake also oversaw the successes of “Knives Out,” “Jesus Revolution,” “Shotgun Wedding,” and more.
Fogelson and Drake will continue to work together over the next couple of months.
Drake’s exit comes as Lionsgate spins its studio business from Starz, which could lead to a potential sale of the studio. The company recently beefed up its library after buying eOne at the end of 2023.
“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 succeed him. Adam has the leadership experience at both the major studio and independent level as well as the strategic vision to keep our Motion Picture Group strong and vibrant in a fast-changing environment.”
“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. “I am very proud we were able to reinvigorate our ‘Hunger Games’ and ‘Saw’ franchises, grow the ‘John Wick’ Universe, and successfully expand every aspect of our motion picture business. When Jon and I engaged in succession planning, our goal was to build on the momentum and success we’d experienced over the last few years. 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.”
“I deeply appreciate the trust and confidence that Jon, Michael, Joe and the rest of the management team have placed in me and I look forward to embarking on this next chapter together,” Fogelson said. “Lionsgate unifies the two primary threads of my career: the scale and talent relationships of a major studio with the renegade, resourceful spirit of a start-up. I am dedicated to building and extending our extensive library of films and top-tier franchises which, as the last year has proved, still have lots of room to grow. I’m particularly grateful for the chance to continue working alongside this passionate and innovative team in a culture that is creatively audacious, entrepreneurial and supportive.”
Fogelson led Universal as chairman from 2009-2013, some of the studio’s best years. The tenure included the fifth and sixth “Fast & Furious” movies, the rebooted “Jurassic World,” and other hits like “Lone Survivor,” “Ride Along,” “Neighbors,” and “Fifty Shades of Grey.” At STX he oversaw “Hustlers,” “Bad Moms,” “The Upside,” “Greenland,” and more.
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