Peace Arch CEO Gerry Noble resigns

One year after succeeding Jeff Sagansky at helm

TORONTO -- Peace Arch Entertainment CEO Gerry Noble has resigned a year after succeeding Jeff Sagansky as head of the Canadian indie producer and distributor.

Toronto-based Peace Arch on Tuesday said Noble, a veteran turnaround specialist, will shortly be replaced by a new CEO.

"With the recent sale of its home entertainment division, I believe Peace Arch is now well situated to grow its core businesses of domestic television production and worldwide motion picture licensing," Noble said in a statement.

Last month, Peace Arch and 50-50 partner ContentFilm spun off their North American home entertainment joint venture to a consortium led by Peace Arch home entertainment chief Berry Meyerowitz.

Noble shifted Peace Arch out of in-house film production to focus on TV production and distribution and film releasing.

His departure comes 10 days after the U.S. Attorney's Office in Los Angeles cleared another former Peace Arch CEO, Gary Howsam, of all charges related to bank fraud brought in December 2007.

Peace Arch indicated Howsam, who still retains a minority stake in the Canadian producer, will not return to the company as he resumes film production.