DreamWorks' "Kung Fu Panda 3" will be co-produced with a Chinese company. (Photo : Reuters)
Official reports from DreamWorks Animation have confirmed the current Chief Creative Officer Bill Damashke will be stepping down of its post. In return, DreamWorks will be assigning producer Bonnie Arnold and Mireille Soria titles as co-president of the studio.
The two, Arnold and Soria, have produced several DreamWorks films in the past. Most notable of these is the "How To Train Your Dragon" and the "Madagascar" franchises, both reported earned a combined $3.5 billion.
DreamWorks Animation CEO Jeffrey Katzenberg said in a statement that "Mireille and Bonnie are two of the most accomplished and prolific filmmakers working in the feature animation today."
"I am confident in their ability to marshal the extensive creative resources available at our studio and lead DreamWorks's vast ranks of artists and filmmakers as they produce the highest quality entertainment," Katzenberg added.
The change in top level management spot might be due to the fact that DreamWorks animation has not made a serious box office hit in the past couple of years compared to their biggest competitor Pixar which has been consistent in bringing box office animations to the theater. It is important to note that although the "How To Train Your Dragon" and "Madagascar" franchises were very successful, a fair number of DreamWorks Animation films were flops. Most notable of these were "Rise of the Guardian "and "Mr. Peabody & Sherman". These films were huge flops and have made some serious impact not only on the company's ability to produce animation but also had its equal repercussion in the stock market.
Bonnie Arnold has already made a name for herself in the film making industry. She received Academy Awards nomination of her work as a producer of "How To Train Your Dragon" and its sequel "How To Train Your Dragon 2" became 2014's biggest animated movie grossing more than $1.1 billion.
Mireille Soria who has worked with DreamWorks Animation for almost 15 years is also a veteran in the animated film industry. She is the producer of the three "Madagascar" films which altogether garnered a total $1.9 billion worldwide.
