Universal Pictures fired chairmen Marc Shmuger and David Linde, consolidating the position and naming a replacement on Monday, according to Hollywood Reporter.
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Universal Studios President Ron Meyer promoted two employees from within to help replace Schmuger and Linde, who ran Universal Pictures for 3 ½ years.
Adam Fogelson, the studio’s head marketing chief, has been named chairman, and production president Donna Langley, co-chairman, reporting to Fogelson. Rick Finkelstein, already vice chairman and COO, will acts as a "key strategic adviser" to both.
The move comes after a string of major box-office disappointments for the studio, which is the second-oldest in the United States. Two weeks ago, Walt Disney Studios chairman Dick Cook abruptly left his position. Earlier this month, Metro-Goldwyn-Mayer Inc. chief executive Harry Sloan was pushed out, and a few weeks earlier Paramount Pictures removed its two top movie executives, John Lesher and Brad Weston, according to the Los Angeles Times.
Universal Pictures is a subsidiary of NBC Universal, which is owned 80% by General Electric (NYSE: GE) and 20% of French-based Vivendi.
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