DreamWorks Animation SKG Inc. said Friday it elected President Lewis Coleman to its board of directors effective immediately.

Coleman's addition raises the number of board members to 12.

In December, Coleman was named president of DreamWorks. Before joining DreamWorks, he served as chairman of Banc of America Securities LLC, a subsidiary of Bank of America Corp. He served as vice chairman and chief financial officer for Bank of America.

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Shares of DreamWorks dropped 29 cents to $29.01 in afternoon trading on the New York Stock Exchange.

Source: DreamWorks Animation"