Industry veteran Paul Bronfman is stepping down as senior advisor and co-chairman of studio operator and equipment rentals company William F. White International (WFW).

A spokesperson for WFW confirmed the news to Playback Daily, sharing a memo sent to clients on Wednesday (Aug. 16), written by EVP and COO Garin Josey.

Bronfman will step down from his joint roles on Aug. 31, but remain connected to the company as chairman emeritus. He will continue as chairman and CEO of Comweb Corporation, as well as serve as senior advisor to Pinewood Toronto Studios, which was acquired by Pinewood Group earlier this year. Bronfman will report to Paul Golding, CEO of Pinewood and Shepperton Studios.

“Paul’s leadership has been an invaluable asset to many of us,” said Josey. “Through his wealth of experience and insights, he has played a pivotal role in shaping not only the collective success of WFW, but the industry at large.”

Bronfman sold WFW to the U.K.’s Ashtead Group in 2019 in a deal valued at about $260 million, which occasioned his transition from CEO to senior advisor and co-chairman.

The sale saw WFW change hands from Comweb, which had acquired a controlling interest in the company in 1989, and join the Sunbelt Rentals group, which has since expanded with additional acquisitions at home and abroad.