Lincoln director Steven Spielberg may have lost out in the Best Director Oscar on Sunday but he has since been named as president of the jury at this year's Cannes Film Festival.

Spielberg reacted to the news: "The memory of my first Cannes Film Festival, nearly 31 years ago with the debut of E.T, is still one of the most vibrant memories of my career.

"For over six decades, Cannes has served as a platform for extraordinary films to be discovered and introduced to the world for the first time.

“It is an honour and a privilege to preside over the jury of a festival that proves, again and again, that cinema is the language of the world."

Cannes Film Festival president Gilles Jacob added: "Steven Spielberg is a Cannes regular - Sugarland Express, Colour Purple - but it was with E.T, that I screened as a world premiere in '82, that ties were made of the type you never forget.

"Ever since, I've often asked Steven to be jury president, but he's always been shooting a film. So when this year I was told, 'E.T, phone home', I understood and immediately replied, 'At last!'"

Previous jury presidents include Tim Burton, David Lynch, Martin Scorsese, Ingrid Bergman, Clint Eastwood and Kirk Douglas

The 66th annual Cannes Film Festival takes place between May 16 and 23, 2013.