DreamWorks Animation Loses Marketing Chief

Dreamworks Animation

Globe has been with the toon studio since 1996.

DreamWorks Animation is losing its marketing chief, Anne Globe, the company announced Monday in an SEC filing.

As part of the departure, Globe will receive a lump sum payout and divest herself of company stock.

In a separate filing on Monday, DWA also announced its intention to raise $300 million in unsecured debt due 2020. Company plans to use the money to pay off existing debt and use any leftover funds for general corporate purposes, potential acquisitions and stock repurchases.

Announcements follow the disappointing opening of DWA’s toon “Turbo,” which has grossed about $125 million worldwide.

SEE ALSO: Jeffrey Katzenberg on What Went Wrong With ‘Turbo’

Globe had been with the company since 1996, and was named head of worldwide consumer products and promotions in 2005. She became head of worldwide marketing in 2007.

DreamWorks Animation extended her contract in 2011 to run through Jan. 1, 2014.

(Marc Graser contributed to this report).

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