William Pfeiffer has resigned from Celestial Pictures after heading for seven years the Hong Kong-based company that owns the Shaw Brothers film library.

Citing personal reasons for his departure, he is expected to pursue new business ventures reportedly with backing from Hollywood. March 9 is his last day of service.

More about his resignation and his replacement will be announced later by publicly-listed Malaysian broadcaster Astro All Asia Networks which owns Celestial.

Celestial appointed Pfeiffer as CEO in 2001. Under his leadership, the company launched TV channels including Celestial Movies which has since reached out to about a dozen Asian territories, while the digitally remastered Shaw Brothers library has been distributed to more than 100 territories worldwide through Celestial Movies and on home video.

The company owns the world's largest Chinese film library with the 760-title Shaw Brothers library as its core asset.

Pfeiffer has lived in Asia for 23 years. Prior to joining Celestial, he was managing director Asia of Sony Pictures' Columbia TriStar International Television for a decade, responsible for launching 20 television channel services across the region under eight brands, including AXN, Animax, and Sony Entertainment TV.

Meanwhile, the position for vice president, distribution remains vacant since Yvonne Chuang left the company recently to join regional broadcaster the Star Group.

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