Katie Holmes proved to be one talented actress. Now, the former Mrs. Cruise is taking a leap forward in her career by becoming a director. Following in the steps of renowned actors turned directors Angelina Jolie and Joseph Gordon-Levitt, Holmes is gearing up for her directorial debut of "All We Had."

After starring in the hit television series "Dawson's Creek," Katie Holmes is planning to create a hit film of her own. Holmes will not only be starring in the film adaptation of Annie Weathermax's novel, "All We Had," but she's also set to direct the film.

"I am very excited and honored to be collaborating with Jane and Josh on this project and look so forward to bringing Annie's incredible characters to the screen," stated Holmes in a statement.

"All We Had" tells the tale of a broke mother along with her 13-year old daughter who finds comfort and a home in a small town. The film adaptation will be penned by none other than Josh Boone. Boone had directed the hit film adaptation of John Green's best-selling novel, "The Fault in Our Stars" and another film, "Stuck in Love."

The film is scheduled for July with Jane Rosenthal of "Little Fockers" producing the film and Berry Welsh as VP of production. As for Katie Holmes' other projects, the 35-year old actress stars in the films "The Giver," "Take This Waltz" and "Miss Meadows." "Miss Meadows" recently premiered at the Tribeca Film Festival. It will premiere in theatres by Nov. 14.

Apart from films, Katie Holmes will be seen along with Jay Z, Carrie Underwood and Hugh Jackman for the third annual Global Citizen Festival. This event is set to encourage people to become "Global Citizens" in the hope to end poverty by the year 2030. The concert is set to take place on Sept. 27 at Central Park's Great Lawn.