TV-Loonland has announced that its CEO, Simon Flamank, is to leave the firm in November.
Flamank has accepted the role of COO/CFO for Handmade, a UK AIM listed film and media company, taking on the position from December 2nd.
"The last three and a half years have been both the most rewarding and also the most difficult for TV-Loonland," Flamank said in a statement. "Despite many obstacles, we have been able to bring to the market quality new productions such as The Owl, Pat & Stan and, of course, our internationally recognised brand Little Princess.
"At the same time, we have had to restructure the business and were able to achieve that through a cancellation of E14 million in a debt for equity swap, alongside the repayment of the remaining E6 million of debt through a library and asset sale."
Flamank continued: "None of this would have been possible without the support of all of the members of staff both past and present who have lived through this transformation and have made it happen.
"The forthcoming Extraordinary General Meeting (EGM) marks a new chapter in TV-Loonland's history and prior to that meeting there will be further announcements made by the company."