DreamWorks Animation Announces Departure of Chief Accounting Officer
December 14 2009 - 7:45AM
PR Newswire (US)
Heather O'Connor to Assume Position Currently Held by Phil Cross
GLENDALE, Calif., Dec. 14 /PRNewswire-FirstCall/ -- DreamWorks
Animation SKG, Inc. (NASDAQ:DWA) today announced that Phil Cross,
the Company's Chief Accounting Officer, will be stepping down from
his current position. Cross has served as the Company's Chief
Accounting Officer since September 2007 and will remain in this
role through February 2010 to assist with the transition and the
annual financial close. He will then remain a consultant to the
Company. "Phil has served as a key member of the DreamWorks
Animation leadership team throughout the course of his two years
with us as Chief Accounting Officer," said Lew Coleman, DreamWorks
Animation President and Chief Financial Officer. "On behalf of the
management team and Board of Directors, I want to thank Phil for
his many contributions to the Company." Heather O'Connor, who
currently serves as Director of SEC Reporting for DreamWorks
Animation, will assume the role of Chief Accounting Officer in
February 2010, subject to confirmation by the Company's Board of
Directors. "I am pleased that Heather will be joining our executive
team as Chief Accounting Officer," continued Coleman. "Her
considerable experience throughout her 14 years with the Company
make her an ideal candidate to oversee DreamWorks Animation's
corporate accounting and financial reporting functions in the near
future." O'Connor has served in her current role at DreamWorks
Animation since January 2006. Previously, she held a variety of
positions within the Accounting and Financial Planning &
Analysis departments at DreamWorks LLC. Prior to her roles at
DreamWorks, O'Connor served as Audit Senior at Arthur Andersen,
LLP. She serves as Treasurer and sits on the Board of Directors of
needtheater in Los Angeles. O'Connor received her degree from the
University of Illinois, Urbana-Champaign, and is a certified public
accountant. About DreamWorks Animation SKG DreamWorks Animation
creates high-quality entertainment, including CG animated feature
films, television specials and series, live entertainment
properties and online virtual worlds, meant for audiences around
the world. The Company has world-class creative talent, a strong
and experienced management team and advanced filmmaking technology
and techniques. All of DreamWorks Animation's feature films are now
being produced in 3D. The Company has theatrically released a total
of 18 animated feature films, including the franchise properties,
Shrek, Madagascar and Kung Fu Panda. Caution Concerning
Forward-Looking Statements This document includes certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The Company's plans,
prospects, strategies, proposals and our beliefs and expectations
concerning performance of our current and future releases and
anticipated talent, directors and storyline for our upcoming films
and other projects, constitute forward-looking statements. These
statements are based on current expectations, estimates, forecasts
and projections about the industry in which we operate and
management's beliefs and assumptions. These statements are not
guarantees of future performance and involve risks, uncertainties
and assumptions which are difficult to predict. Actual results may
vary materially from those expressed or implied by the statements
herein due to changes in economic, business, competitive,
technological and/or regulatory factors, and other risks and
uncertainties affecting the operation of the business of DreamWorks
Animation SKG, Inc. These risks and uncertainties include: audience
acceptance of our films, our dependence on the success of a limited
number of releases each year, the increasing cost of producing and
marketing feature films, piracy of motion pictures, the effect of
rapid technological change or alternative forms of entertainment
and our need to protect our proprietary technology and enhance or
develop new technology. In addition, due to the uncertainties and
risks involved in the development and production of animated
feature projects, the release dates for the projects described in
this document may be delayed. For a further list and description of
such risks and uncertainties, see the reports filed by us with the
Securities and Exchange Commission, including our most recent
annual report on Form 10-K and our most recent quarterly reports on
Form 10-Q. DreamWorks Animation is under no obligation to, and
expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events, changes in assumptions or otherwise. DATASOURCE:
DreamWorks Animation SKG, Inc. CONTACT: Shannon Olivas of
DreamWorks Animation Corporate Communications, +1-818-695-3658, Web
Site: http://www.dreamworksanimation.com/
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