Publicly-listed Senator Entertainment and IM Internationalmedia have announced management shakeouts in the final days of 2008.
Senator's COO Legal Affairs, Licences and Human Resources, Christopher Borgmann, has left his position for personal reasons to return to legal practice.
The Berlin-based company will now be headed solely by CEO and main shareholder Helge Sasse.
According to a communique, a co-acquisition agreement with France's Wild Bunch, Senator's partner in the joint venture Central Film, and a license agreement for DVD distribution of various titles with Universum Film has led to positive cash effects in the current financial year and will provide the company with additional funds, securing investments into the Senator Group's new film slate for 2009.
Meanwhile, the supervisory board of IM Internationalmedia has removed Sascha Prestel from office as the sole member of the management board, and replaced him with veteran producer Konstantin Thoeren, who had stepped down from all of his responsibilities within the Internationalmedia Group in mid-August.
Thoeren will be joined on the company's management board by Frederick Ulrich.
Immediately after taking up the reins of Internationalmedia again, Thoeren informed Munich's court of registry that he wishes to withdraw the application for the commencement of insolvency proceedings which had been submitted in August.
Thoeren had originally been appointed as CEO to the financially beleaguered IM Internationalmedia in October 2007 in what had been described at the time as 'intended to signal a new beginning for the company.'