Former Carl Icahn Protege Mark Rachesky Named Lionsgate Co-Chairman

Lionsgate stated inside a regulating filing today that Mark Rachesky, the first kind Carl Icahn protege and also the small-major’s biggest investor, continues to be hired co-chairman from the board, a title he'll tell current Boss Jon Feltheimer. The move was completed on Tuesday, based on the SEC filing Feltheimer was re-hired because the other co-chair. Rachesky has 37.3% of Lionsgate shares, making them undoubtedly its biggest investor. He replaces Harold Ludwig as co-chair, though Ludwig remains about the board. Rachesky was Icahn’s chief investment officer for around ten years but left to begin their own fund. This past year, he was considered a vital player to keep Lionsgate from Icahn’s hands, growing his stake in the organization as Icahn’s challenge to Lionsgate’s management increased. Lionsgate and Icahn settled their longtime dispute recently, ending the organization raider’s hostile takeover attempt.