Victor Loewy on Wednesday bid adieu to Alliance Films on its takeover by Entertainment One.

“Whilst it’s been a privilege to be part of Alliance, having founded and been associated with the company for the past 40 years, I have decided not to be part of the new enterprise,” the former Alliance Films chairman and CEO (pictured) said in a statement.

Loewy, who will now see the Alliance Films brand end with the $225 million merger, added he “will open a new chapter in my life” with his departure.

Entertainment One on Wednesday said former Alliance president Charles Layton had also left the company as Patrice Theroux, head of the media group’s filmed entertainment division, moves to integrate Alliance Films.