Sherry Lansing, chairman of the Paramount Motion Picture Group, is stepping down when her contract expires at the end of 2005. Until then, she will continue in her current role and assist the company in selecting a successor. Lansing was named Chairman of the Paramount Motion Picture Group in November 1992.
Lansing issued a statement saying, "After a great deal of thought, I informed [Viacom co-president and co-COO] Tom Freston that I do not intend to renew my contract. In order to effect a smooth transition, I wanted to inform the company of my decision and give them adequate time to find a successor." She goes on to say, "I move on with great memories, many friendships and few regrets. But now it is time for new challenges. I am extremely excited about the months ahead and planning the next chapter in my life. Meanwhile, there is much left to be done at Paramount and I am looking forward to working closely with Tom and my team on all the exciting projects we have in the works."
Last November, John Goldwyn stepped down as president of Paramount Pictures and vice chairman of the Motion Picture Group in a move that would allow him to exercise his option for a long-term production deal with the studio.
Paramount has released the animated Rugrats features and The Wild Thornberrys Movie under its partnership with Nickelodeon pictures and Klasky Csupo. The Spongebob Squarepants Movie will roll out on the big screen on Nov. 19.