Ortenberg was hired in 2011 as the founding CEO of the company, which was formed by theater chains AMC Theatres and Regal Entertainment Group. Ortenberg will remain through the year’s end to help in the management transition.
The departure comes three days after China’s Tang Media Partners — which owns IM Global and Open Road Films — announced it was rebranding as Global Road Entertainment. The company said the rebrand was a key step in moving toward becoming the next preeminent global content studio, and it follows the recent arrival of Rob Friedman at the company.
“Tom has been an essential part of Open Road’s growth and success over the years,” Friedman said in a statement issued Thursday. “His leadership and legacy has created a foundation that will allow Global Road to evolve into a preeminent global content studio. We are appreciative of all of his efforts and his support as he transitions out of the company.”
Ortenberg previously worked at Lionsgate’s film division, then joined The Weinstein Company as president of theatrical films in 2009 before taking the Open Road post. He issued a statement Thursday about his departure.
“I could not be more proud of the company that I built along with our partners at AMC and Regal and the outstanding team that has led Open Road to some truly remarkable accomplishments. As I depart, I know that the company is in great hands with Rob Friedman and I am certain that the future will be bright for him and the entire organization.”