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The maker of 'Malcolm X' and 'Do the Right Thing' is the first person of black African descent to preside at the world's biggest film festival, which is held in May on the French Riviera.
"I'm honoured to be the first person of the African diaspora (USA) to be named president of the Cannes jury and of a main film festival."
In a written statement from his home in "Da People's Republic Of Brooklyn, New York", Lee said Cannes had changed his life.
Only one Asian, the Hong Kong auteur Wong Kar-wai, has ever led the Cannes jury in its 73-year history.
French actress Isabelle Adjani, whose father was Algerian, became the first person of African descent to lead the jury in 1997.
The world's top film festivals have faced fierce criticism for their lack of diversity in recent years.
Cannes and its rival Venice have faced growing scrutiny, particularly for the lack of female directors in their main competitions, even as they have chosen gender-balanced juries.
More than 80 actresses and woman filmmakers led by then jury president Cate Blanchett staged a red carpet protest at Cannes for equality in the film industry in 2018.
Lee was vocal in his support for the women at the time.
"Spike Lee's perspective is more valuable than ever," festival director Thierry Fremaux said.
"Cannes is a natural homeland and a global sounding board for those who awaken minds and question our stances and fixed ideas.
"Lee's flamboyant personality is sure to shake things up," he added.
Last year the jury was led by "Babel" and "The Revenant" director Alejandro Gonzalez Inarritu, the first Mexican and only the second Latin American to preside over the festival.
The winning film, Korean Bong Joon-ho's "Parasite", has since become a runaway hit, winning the Golden Globe for best foreign film and six Oscar nominations.
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