DreamWorks chairman resigns, replaced by director

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by Associated Press

Associated Press

Posted on October 25, 2012 at 1:06 PM

Updated Thursday, Oct 25 at 1:07 PM

GLENDALE, Calif. (AP) — DreamWorks Animation SKG says Chairman Roger Enrico has resigned, effective immediately.

The movie studio is replacing Enrico, a former CEO of PepsiCo Inc. who had served as chairman since DreamWorks went public in 2004, with board member Mellody Hobson.

Dreamworks did not give a reason for Enrico's resignation in its release Thursday.

The company makes a few big-budget animated movies every year, including "Kung Fu Panda" and "Madagascar," along with some TV specials. It signed a five-year distribution deal with News Corp.'s 20th Century Fox in August.

Shares of DreamWorks Animation SKG Inc. are up 8 cents to $20.59 in afternoon trading.

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