Lionsgate appoints former Treasury Secretary Mnuchin to board

Lionsgate Studios Corp. (NYSE: LION) appointed former U.S. Treasury Secretary Steven T. Mnuchin to its board of directors, effective immediately, the company announced.

Mnuchin served as the 77th U.S. Secretary of the Treasury and brings financial and regulatory expertise along with entertainment industry experience. He previously led Dune Capital Management, a hedge fund focused on entertainment investments, and co-financed the film "Avatar." Mnuchin has more than 35 executive producer credits and currently serves as Managing Partner of Liberty Strategic Capital, a private equity firm.

"Steven brings a long record of public and private sector leadership and is an exceptional addition to the Lionsgate Board," said Dr. Mark Rachesky, Chair of the Lionsgate Board of Directors. "His steady judgment, global perspective and deep industry insights will be enormously valuable as Lionsgate continues to grow as one of the world's leading pure-play content studios."

Mnuchin said he has "long admired Lionsgate's creativity, entrepreneurial spirit, and ability to excel in a competitive industry." He added that he looks forward to "helping guide the company in combining strong vision with disciplined execution."

Before his government service, Mnuchin worked as a Partner and Chief Information Officer at Goldman Sachs and founded OneWest Bank. His government roles included serving on the National Security Council and chairing the Committee on Foreign Investment in the United States.

According to the press release, Mnuchin and his fund are significant Lionsgate investors. Rachesky noted that "his interests are aligned with those of Lionsgate shareholders."

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