Steve Mnuchin SUSAN WALSH/POOL/AFP/Getty Images Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Lionsgate Studios has named Steven Mnuchin, a former Treasury Secretary in Donald Trump's first presidential administration, to its board of directors. Bringing on the hedge fund operator and film producer follows Lionsgate signing a standstill and voting agreement with Mnuchin's Liberty 77 Capital L.P., and MHR Fund Management, LLC, run by Mark Rachesky, chair of the Lionsgate Board of Directors, according to a Jan. 26 regulatory filing. "Steven brings a long record of public and private sector leadership and is an exceptional addition to the Lionsgate Board," Rachesky said in a statement on Monday. Related Stories Business Ron Schwartz Set to Leave Lionsgate After 27-Year Run Business Lionsgate Sells South Asia Streaming Service After Splitting From Starz Standstill agreements typically prevent investors and their affiliates from acquiring shares beyond a certain limit and taking other actions with respect to the companies. Mnuchin holds around a 13 percent stake in Lionsgate Studios. "His steady judgment, global perspective and deep industry insights will be enormously valuable as Lionsgate continues to grow as one of the world's leading pure-play content studios. Steven and his fund are significant Lionsgate investors, and his interests are aligned with those of Lionsgate shareholders. I and the rest of the Board look forward to working closely with him on the creation of further shareholder value," Rachesky added. The standstill agreement stipulates that "none of the Liberty parties and MHR Fund Management will engage in customary standstill actions, including increasing their ownership in the company above 17.5 percent, making unsolicited proposals, launching proxy contests, forming groups, or otherwise participating in activities that could challenge or circumvent the company's governance structure." Besides his hedge fund, Mnuchin co-financed the Avatar franchise and has over 35 executive producer credits. He is also managing partner of Liberty Strategic Capital, a private equity firm focused on technology, financial services, fintech and new media content. "I have long admired Lionsgate's creativity, entrepreneurial spirit, and ability to excel in a competitive industry. I am pleased to join the company's Board. Lionsgate's board and management team are building something dynamic and forward‑looking, and I am eager to support that momentum. I look forward to helping guide the company in combining strong vision with disciplined execution," Mnuchin said in his own statement. THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up television Christian Vesper Steps Down as Fremantle's CEO of Global Drama and Film The Four Seasons Production Assistants Union Notches First Win in New York Anonymous Content Anonymous Content Names Darren Walker President and CEO Warner Bros. Netflix Co-CEO Greg Peters Says Paramount's Bid for Warner Bros. "Doesn't Pass the Sniff Test" AMC Networks AMC Networks CFO Patrick O'Connell to Exit for New Job TikTok Adam Presser Named CEO of U.S.-Controlled TikTok JV as Board and Investors Revealed television Christian Vesper Steps Down as Fremantle's CEO of Global Drama and Film The Four Seasons Production Assistants Union Notches First Win in New York Anonymous Content Anonymous Content Names Darren Walker President and CEO Warner Bros. Netflix Co-CEO Greg Peters Says Paramount's Bid for Warner Bros. "Doesn't Pass the Sniff Test" AMC Networks AMC Networks CFO Patrick O'Connell to Exit for New Job TikTok Adam Presser Named CEO of U.S.-Controlled TikTok JV as Board and Investors Revealed