In a statement issued on Friday Adee said he will leave on Jun 1 and said he had “always planned to depart when the time was right.”

The former Universal and Disney executive transitioned from Overture when Relativity acquired the company’s marketing and distribution assets from Liberty Media last year. He said he had no immediate plans. Relativity will announce the new president of theatrical marketing and distribution shortly.”

“I had agreed to stay with Relativity during the transitional period to ensure a well-managed marketing and distribution operation, but had always planned to depart when the time was right,” Adee said. “With the success of Limitless [pictured], I think the studio has proven itself as a formidable player in the industry. I wish Ryan [Kavanaugh, Relativity CEO] and the entire team continued success.”

“We were so lucky to have Peter to guide us through our initial launch into distribution and preparing us for growth ahead,” Kavanaugh added. “He is among the best in the business and helped to build an impressive team that rivals any in town. He has been instrumental in finding his replacement which we will announce shortly.”