The reorganization comes after a turbulent period for DreamWorks Animation, which has been attempting to diversify its operations after a string of box-office misfires that rattled investors and caused a sharp decline in the company's share price.
The Glendale company, founded two decades ago, has struggled to replicate the success of its earlier "Shrek," "Kung Fu Panda" and "Madagascar" movies.
Unlike rival studios owned by media conglomerates, DreamWorks has little cushion when one movie flops. The company posted a $15.4-million loss in the second quarter and has reported three write-downs in the last two years for "Mr. Peabody & Sherman," "Rise of the Guardians" and "Turbo."
The studio's most recent release, "Penguins of Madagascar," debuted with a $36-million opening weekend in November. It has grossed about $78 million, according to estimates from 20th Century Fox, the film's distributor.
Damaschke, tapped as chief creative officer in 2011, has been at the company since 1995.
"Mireille and Bonnie are two of the most accomplished and prolific filmmakers working in feature animation today," Katzenberg said in a statement. "I am confident in their ability to marshal the extensive creative resources available at our studio and lead DreamWorks's vast ranks of artists and filmmakers as they produce the highest quality entertainment."
Staff writer Richard Verrier contributed to this report.