Lionsgate Names James W. Barge as New CFO
Lionsgate Chief Financial Officer James Keegan, a 25-year veteran of Lionsgate (NYSE: LGF) and its predecessor companies, has announced his retirement effective October 1, 2013. The Company has asked him to remain as a consultant until January 3, 2014 to assist with the transition to his successor.
James W. Barge has been named Chief Financial Officer effective October 1, reporting to Lionsgate Chief Executive Officer Jon Feltheimer. Barge served as Executive Vice President and Chief Financial Officer of Viacom Inc. from 2010-2012 and Executive Vice President, Controller, Tax and Treasury, from 2008-2010. He previously had a 13-year tenure at Time Warner, ultimately serving as Time Warner Senior Vice President, Controller and Chief Accounting Officer. Prior to his tenure at Viacom and Time Warner, Barge spent 13 years at Ernst & Young, where he rose to the positions of industry leader of the Consumer Products Group and Regional Partner.
"Jim Keegan has provided 25 years of exemplary service to the Lionsgate family, and he will be missed," said Feltheimer. "When he decided to retire, we were fortunate that Jimmy Barge was already working with us on a number of financial initiatives and was available to hit the ground running as our new CFO. Jimmy has tremendous experience guiding the financial operations and strategies of leading major entertainment companies, and he will be a valuable and experienced addition to our management team."
Keegan led Lionsgate's financial team during a period in which the Company continues to significantly delever its balance sheet, paying down its $500 million Summit term loan more than two years early and refinancing most of its other debt. Lionsgate announced a new five-year, $800 million revolving credit facility with a JPMorgan-led syndicate of banks last year. The Company reported its best financial results ever in the fiscal year ended March 31, 2013.
Barge is a member of the Advisory Council for the SEC Institute and a past member of the Financial Executive Institute's Committee on Corporate Reporting. He also serves as chair of the Nominating and Governance Committees of the Board of Directors of Scholastic Corporation. A summa cum laude graduate of the University of Georgia, he is a distinguished practitioner lecturer for the University of Georgia's Terry College of Business and is a member of the University of Georgia Alumni Board.
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