Kathleen Kennedy to co-chair Lucasfilm

In a move to further George Lucas's retirement plans, Kathleen Kennedy will become co-chair of Lucasfilm, Ltd., with Lucas himself remaining as co-chair and CEO.

Micheline Chau remains as president and chief operating officer of Lucasfilm.

Lucas said in a statement: "I've spent my life building Lucasfilm and as I shift my focus into other directions I wanted to make sure it was in the hands of someone equipped to carry my vision into the future."

Lucas told a British newspaper recently he intends to retire to "make hobby films," and this move signals that he intends to step away from direct management of the company that bears his name. He has long spoken of his desire to return to making small-budget movies but Lucasfilm releases have been limited to tentpoles for its existing franchises: "Star Wars" and "Indiana Jones."