Former Hollywood producer Steven Mnuchin, who served as Treasury Secretary during President Trump’s first term, has joined Lionsgate Studios’ board of directors, effective immediately.
Mr. Mnuchin accumulated ownership in Lionsgate through his investment firm, Liberty Strategic Capital. In May 2025, Liberty Strategic Capital increased its stake in Lionsgate Studios to 12.6%.
Mnuchin’s appointment to Lionsgate’s board is subject to a one-year “cease and desist” clause under which Liberty Strategic Capital has agreed not to acquire (directly or indirectly) more than 17.5% of Lionsgate Studios’ stock, according to the entertainment company’s filing with the SEC on Monday.The same standstill also applies to MHR Fund Management, which is controlled by Mark Rachesky, chairman of the Lionsgate board.
In announcing his appointment to the board, Lionsgate said Mnuchin brings “deep financial and regulatory expertise” from his time as Treasury secretary and entertainment industry experience from his leadership at Dune Capital Management, a hedge fund he founded and served as CEO focused on investing in the entertainment industry.
Mr. Mnuchin has served as executive producer on more than 35 projects, including co-financing James Cameron’s “Avatar.” Mr. Mnuchin currently serves as a managing partner at Liberty Strategic Capital. Previously, he was a partner at Goldman Sachs. Chairman of the Committee on Foreign Investment in the United States (CFIUS). He was also a member of the National Security Council.
“Stephen brings a long track record of leadership in the public and private sectors and is an exceptional addition to the Lionsgate Board of Directors,” Rachesky said in a statement. “His sound judgment, global perspective and deep industry insight will be invaluable as Lionsgate continues to grow as one of the world’s leading pure-play content studios. Stephen and his funds are important investors in Lionsgate, and his interests are aligned with those of Lionsgate shareholders. I and the rest of the board look forward to working closely with him to create further shareholder value.”
“I have long admired Lionsgate’s creativity, entrepreneurial spirit, and ability to excel in a competitive industry,” said Mnuchin. “I am pleased to join the company’s board of directors. Lionsgate’s board and management team are building a dynamic, forward-looking organization, and I look forward to supporting that momentum. I look forward to helping lead the company through a combination of strong vision and disciplined execution.”
Mr. Mnuchin is a director of Flagstar Bank and chairman of Satellig, a company that specializes in Earth observation satellites. He also serves on the boards of several cultural and philanthropic organizations, including the Los Angeles Museum of Contemporary Art, the Whitney Museum of American Art, the Hirshhorn Museum and Sculpture Garden on the National Mall, the UCLA Health System, NewYork-Presbyterian Hospital, and the Los Angeles Police Foundation. He holds a bachelor’s degree from Yale University.
