She will work closely with Motion Picture Group chairman Joe Drake to ensure the film division's strategic initiatives and corporate priorities encourage filmmakers' artistic visions to thrive.
"Jen is one of the most exceptional and talented motion picture business strategists working in our industry today," Drake said. She has spearheaded many of Lionsgate's successes within the Motion Picture Group and is the best at understanding the marriage of business opportunities and the creative aspirations of filmmakers. Our company just got stronger with Jen in this role." "She knows this Company inside and out, is skilled, experienced, and is the ideal Chief Operating Officer.
Lionsgate veteran executive Jen Hollingsworth has been promoted to the newly created post of chief operating officer of Lionsgate Motion Picture Group.
Lionsgate's top domestic grosser in 2018 was "A Simple Favor" with $53 million. The move comes following a quarter of hardship for Lionsgate in the fall as motion picture segment revenues slid 33% to $362.6 million and segment profits decreased by 19.9% to $43.5 million, reflecting the underperformance of titles such as "Robin Hood," which earned only $30.8 million in North America and $54 million internationally on a $100 million production budget.
Hollingsworth will also head up the Motion Picture Group's finance department, manage a strategic planning and analysis team, and oversee daily operations as the division positions itself for growth.
She most recently served as its executive vice president of strategic planning and operations.” /> Hollingsworth joined the company in 2007.
However, during the quarter, Lionsgate's releases "Cold Pursuit," "Five Feet Apart" and "Tyler Perry's a Madea Family Funeral" have over-performed expectations.

That includes a theme park in Dubai and Lionsgate Entertainment World in China, set to open next year.” /> As chief brand officer, Palen will continue to oversee the Lionsgate brand, which includes promotion of the company's franchises and its location-based entertainment business.
Palen, who has been at Lionsgate since 2001, has been credited with innovative campaigns for some of the studio's most successful titles, including "La La Land," the four-film "Hunger Games" franchise, and "Wonder." His decision to step down was part of a reshaping of the Lionsgate's executive ranks following last fall's arrival of Joe Drake as co-chairman of the Lionsgate Motion Picture Group.
Tim Palen, the longtime Lionsgate marketing chief, is stepping down from the post while retaining his slot as chief brand officer for the studio, according to insiders.
Lionsgate had a big send-off for Wachsberger, a force in the foreign sales world during Cannes. Wachsberger is exiting the company six years after it acquired Summit Entertainment and Feig has been raising money to launch a new company focused on youth-oriented entertainment properties, one that may include Lionsgate as an investor. The move comes as veteran Lionsgate executives Erik Feig and Patrick Wachsberger are leaving the studio.
Nathan Kahane succeeded Feig last month as president of the Motion Picture Group. Palen will work with Drake in the search for a new theatrical marketing president.