Universal President and Chief Operating Officer Ron Meyer made the announcement Thursday in Las Vegas, The Hollywood Reporter said.
Universal Chairwoman Stacey Snider left the studio last month to take the helm of DreamWorks.
Shmuger has been Universal vice chairman since 2000, while Linde has been onboard with Universal's specialty film divisions since 2002.
Reindeer recovered after escaping from Santa during lighting ceremony
Ukrainian protestors topple Lenin statue [VIDEO]