The Cannes Film Festival board of administrators has extended the terms of Gilles Jacob, the 81-year-old president of the Cannes film festival, along with its 50-year-old director Thierry Fremaux.

Although there were reportedly several big-name positions positioning for the job including French Culture Minister Frederic Mitterrand, Jacob told AFP, that the festival’s board of administrators voted to extend his mandate as President until 2014 along with that of Fremaux.

The Cannes Film Festival is run as an association whose members are a mix of French state representatives, including of the culture ministry and parliament, and figures from the French film world, from producers to cinemas.

The next festival is scheduled for May 16 to 27, 2012.