Continuing to revamp its business operations, Paramount Pictures on Tuesday named 20th Century Fox executive Stephen Plum senior executive vice president and head of motion picture business and legal affairs.
Plum was hired by Andrew Gumpert, who left Sony Pictures Entertainment in late November and soon took a post as Paramount’s chief operating officer. Plum will report to Gumpert and work closely with Paramount Chairman and CEO Brad Grey, according to an announcement of the hire.
Following the hiring of Gumpert, the moves signal Paramount’s resolve to improve its bottom line, after spending the last five calendar years in the cellar among the major studios, when it comes to domestic box office performance.
Plum will have direct oversight of Paramount’s motion picture division’s day-to-day business affairs activities, the announcement says. Allison Gray will remain in charge of the motion picture legal and co-financing teams. She is executive vice president of legal affairs and corporate, and will report to Plum.
The shuffle also includes the ascension of veteran Paramount business affairs executive Rona Cosgrove to executive vice president, in charge of Business Affairs. She also will report to Plum and will add management of that department to her other duties.
Gumpert said he looked forward to working with Plum to “execute on Brad’s strategy as we continue to grow our slate and work with premier talent and global partners.” Plum, in turn, called Paramount “a legendary studio with a wealth of exciting film projects in the pipeline,” and said he looked forward to working closely with “our studio’s many collaborators and partners.”
Plum returns to Paramount after a stint at 20th Century Fox, where he was executive vice president of business affairs for the motion picture group since 2003. Among his duties there were overseeing business affairs at the Fox 2000, Fox Animation, Fox Family and Fox International Productions divisions. He had worked in business and legal at Paramount before that, after a time in private law practice in New York.
Plum is a member of the New York and California bars, and an English solicitor. He attended the University of Sussex in England where he received a B.A. in Law, and The College of Law.