Cheryl Boone Isaacs will take over after Hawk Koch finishes his term.
The Academy of Motion Pictures Arts & Sciences has elected its first Black president.
It was announced today that Cheryl Boone Isaacs will take over the top spot after Hawk Koch finishes his term, reports Variety.
Koch, who was elected president less than a year ago, must step down due to the organization's rule which doesn't allow members to spend more than nine years on the Academy Board of Governors.
Isaacs is no stranger to the business. She has held every position at the Academy and is currently its first vice president. Isaacs also produced this year's Governor's Awards.
She's also currently the head of CBI Enterprises—which is heavily involved in Hollywood. It was consulted on several films including The Call, The Artist, The King's Speech, Precious and Spider-Man 2.