The co-chairs of Lionsgate’s motion picture group have signed long-term renewals on their contracts.

Rob Friedman and Patrick Wachsberger will continue to oversee all aspects of Lionsgate’s US and international feature film acquisition, production and distribution operations. 

Since Lionsgate acquired Summit Entertainment in January 2012 the company has achieved record years of more than $2bn at the worldwide box office in 2012 and 2013 and grossed more than $1bn at the international box office for three straight years.

The feature slate encompasses approximately 30 releases annually from the Lionsgate and Summit labels as well as Latino specialist Pantelion Films, the urban Codeblack Pictures label, the partnership with Roadside Attractions and Lionsgate UK.

“Rob and Patrick’s complementary skills are invaluable in growing our motion picture operations worldwide, and their experience, expertise and relationships will continue to play an integral role in moving our business forward,” said Lionsgate CEO Jon Feltheimer and vice-chairman Michael Burns.

“We’re pleased that they will continue leading our superb motion picture teams in expanding our portfolio of brands and franchises, cultivating exciting new properties and diversifying our feature film business into new areas geared to our next generation consumers.”

“Jon and Michael have created a dynamic and entrepreneurial culture in which to continue growing Lionsgate’s film business, and we’re fortunate to be supported by an extraordinary group of production, acquisition, marketing and distribution executives,” said Friedman and Wachsberger.

“Our opportunities are limitless, and we look forward to many years of helping the Company continue to build its stature as a forward-looking global content leader.”

The Hunger Games: Mockingjay – Part 1 remains in release and stands at $705m worldwide.

Insurgent, the second entry in the Divergent franchise, is set to open on March 20. Mortdecai is set for January 23, while Now You See Me 2 is in production and scheduled for worldwide release in June 2016.