DreamWorks Animation is filling its board seat recently vacated by David Geffen with the CEO of the David Geffen Co.
Richard Sherman, who has led the mogul’s personal investment firm since 1992, was named Tuesday to the toon studio’s board of directors.
Geffen himself ankled the board last month soon after he left DreamWorks Studios following its split from Paramount to restart as an independent company.
He remains the company’s second-largest shareholder behind CEO Jeffrey Katzenberg, with 22% of the voting power. Appointment of Geffen’s financial guru to the DreamWorks Animation board indicates that he plans to hold onto his stake and wants someone to represent his interests.
“Richard is very familiar with our company and brings a far-reaching background in finance along with substantial industry expertise,” Katzenberg said in a statement.