Lionsgate has promoted Erik Feig to the position of co-president of the company’s Motion Picture Group, the Vancouver mini-studio announced Tuesday.

In addition to accepting the promotion, Feig has also signed a long-term agreement with Lionsgate.

In his new role, Feig will oversee feature film development and production for the Lionsgate and Summit film shingles, and will continue to report to Lionsgate Motion Picture Group co-chairmen Rob Friedman and Patrick Wachsberger.

“Erik has assembled a tremendous production slate over the past two years, and he will be a critical, innovative and disruptive part of our future as we continue to evolve as a next generation global content leader,” said Lionsgate chief executive officer Jon Feltheimer said in a statement.

Feig will share the co-president position with Steve Beeks, who also continues to serve at the co-COO of Lionsgate.

Feig joined Lionsgate in January 2012 after the company acquired Summit Entertainment, where he headed production.