Veteran TV producer and webcaster Robert Essery on Tuesday became the sole chairman of Peace Arch Entertainment after former co-chairman and major shareholders Jeff Sagansky and Drew Craig completed their separate boardroom departures.

Essery, who is currently CEO of publicly traded How To Web TV and a director of Peace Arch since 2005, became co-chairman alongside Sagansky last July when Craig exited the boardroom.

On Monday, Sagansky resigned as a Peace Arch director and co-chairman to become non-executive chairman of RHI Entertainment and an advisor to the U.S. producer of TV movies and miniseries.

Both Craig and Sagansky remain major investors in Peace Arch.

‘Jeff’s contributions to Peace Arch have been substantial and we are delighted that he will continue his support of our company as a significant shareholder. All of us wish Jeff the very best in his new role with RHI,’ Essery said in a statement.

Sagansky last year was replaced as Peace Arch CEO by another Canadian TV veteran, Gerry Noble.

With Noble and Essery at the Peace Arch helm, the producer is now led by veteran TV players at a time when it has scaled back in-house film production and beefed up its TV production arm after the success of The Tudors for Showtime and CBC. Peace Arch is also building out its direct DVD and theatrical distribution network in North America.

Another focus for Essery will be cleaning up Peace Arch’s balance sheet and restoring a stock price pummeled by the current market meltdown and a small-cap status.