George Lucas has relaxed his Force chokehold on Lucasfilm just a little by naming veteran producer, Kathleen Kennedy, co-chair of the entertainment company.  This news comes after Lucas recently announced that he would be stepping away from Lucasfilm to focus on more guerilla film projects.  Lucas will remain CEO and occupy a co-chair position on the board himself as he transitions Kennedy into the role.   Micheline Chau will remain as COO and President and will continue overseeing the day-to-day operations.  Hit the jump for commentary from Lucas, Kennedy and Steven Spielberg.

I'll let the big spenders do the talking through this handy-dandy press-release:

“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,” said George Lucas. “It was important that my successor not only be someone with great creative passion and proven leadership abilities, but also someone who loves movies. I care deeply about my employees—it is their creativity and hard work that has made this company what it is today. As the company grows and expands I wanted to be sure the employees of Lucasfilm have a strong captain for the ship. I also care deeply about our fans and it was important to have someone who would carry on the passion and care that I’ve given the films over the years. So for me Kathy was the obvious choice, she is a trusted friend and one of the most respected producers and executives in the industry.”

Director Steven Spielberg said, “George’s prescience is once again proven by his choice of my long time producing partner, Kathy Kennedy to co-chair Lucasfilm. Kathy has been a member of both of our families going into a fourth decade so it does not feel like she is going to another galaxy far far away. She will get just as much support from me with Lucasfilm as George has given both of us all these years.”

“George is a true visionary,” said Kathleen Kennedy. “I’ve seen him build Lucasfilm from a small rebel unit in Northern California to an international fully integrated entertainment company. I’m excited to have the chance to work with such an extraordinary group of talented people. George and I have talked about the enormous opportunities that lie ahead for the company, and as George moves towards retirement I am honored that he trusts me with taking care of the beloved film franchises. I feel fortunate to have George working with me for the next year or two as I take on this role—it is nice to have Yoda by your side.”