Moritz Borman is to resignfrom his post as chief executive officer of Intermedia on April 30 and exitfrom the management board of parent company IM Internationalmedia.
He will be replaced by MartinSchuermann who will become the new chief executive officer of Intermedia andchairman of the board of IM Internationalmedia on May 1.
Borman, who was largelyresponsible for mounting numerous productions for Intermedia, such as Terminator3: Rise Of The Machines and Alexander, will be responsible solelyfor the production of film projects for Intermedia.
Scott Kroopf, Intermedia'spresident of production, will continue to oversee the acquisition, developmentand production of films for Intermedia. Borman also will remain the company'slargest individual shareholder.
Moritz Borman: "My commitment tothis company remains as strong as ever. This is apparent to anyone who knows meand the fact that I have agreed to not sell my shares is testament to this. Therestructuring will enable me to focus on films only, which is what Intermedianeeds."
Schuermann will take on thestrategic and administrative responsibilities of running the company. From 1995to 2000 he was managing director of the Los-Angeles based CLT-UFA, aBertelsmann TV and motion picture subsidiary. In this role he was in charge ofacquisitions of international programming and co-productions. Since 2000, Mr.Schuermann has primarily focused on strategic transactions between German andAmerican media companies.
Andreas Konle will remain chieffinancial officer of the company.