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Frank Price is stepping down from his role as chair of the USC School of Cinematic Arts Board of Councilors at the end of the spring semester.

Price, who serves as chairman and CEO of Price Entertainment Inc., has served as the board’s chair since its inception in 1992. His role will be filled by Donna Langley, chairman of Universal Filmed Entertainment Group, for the next year to come. Price’s retirement was announced on Wednesday by Elizabeth M. Daley, who serves as the dean of the USC School of Cinematic Arts.

“The School would not be where it is today without Frank Price,” Daley said. “He has been an invaluable partner and leader of the Board of Councilors for the past 29 years and has worked tirelessly to ensure that SCA sits at the forefront of the industry in all areas of cinematic arts. His guidance has ensured that our students are fully prepared to meet the demands of this ever-changing industry. We are forever grateful for all the work he has done on behalf of our students. At this moment of transition, we are honored to have Donna step into the Chair. Her insights and experience are invaluable and will continue to ensure we are global leaders in education in film, television, games and other forms of entertainment media.”

While serving as CEO of Columbia Pictures, Price greenlit USC alum John Singleton’s thesis script, which went on to become  “Boyz ‘N The Hood.” The critically-acclaimed drama inspired Price to form the Board of Councilors at USC’s film school, assembling the likes of Steven Spielberg, George Lucas, Robert Zemeckis and David Geffen. Since then, the board has grown substantially and has created new divisions for animation, video games, interactive media and digital art.

“My work at SCA has been one of the most rewarding parts of my career,” Price said. “Seeing students step into the entertainment world ready to meet the challenges and demands of this continuously evolving industry gives me immense joy. My partnership with Elizabeth Daley over the past three decades will remain a highlight. I am thankful that Donna is stepping into the role of Chair for the next year. Her extensive experience, invaluable leadership and vision will ensure the School and its students will continue to thrive on a global scale.”

“It has been an honor to work alongside Frank and my colleagues on the Board the past two years,” Langley added. “Frank’s commitment to the students over the past 29 years has been an inspiration to us all. I look forward to continuing to work on behalf of the students to ensure SCA remains at the forefront of the industry.”