DreamWorks Studios names Turner executive CEO

DreamWorks Studios, the movie production company co-founded by Steven Spielberg, named Michael Wright as chief executive.

Wright is currently president and head of programming at Time Warner Inc's TNT, TBS and Turner Classic Movies television networks. He will take over from Stacey Snider, effective Jan. 3.

DreamWorks Studios is known for movies such as "Lincoln", "The Hundred-Foot Journey" and "Need For Speed".

Wright will report to Spielberg and will be responsible for the creative aspects of the company's movie business.

"He has a keen understanding of storytelling and how to deliver those stories in every shape and size, regardless of platform," Spielberg said in a statement.

Snider will leave the company at the beginning of January.