New Regency COO/CFO Louis Santor Leaving; Jonathan Fischer Becomes CFO

New Regency’s COO leaves the company six months after chairman Arnon Milchan began a shakeup of the company’s executive ranks

The executive shakeup at New Regency continued Monday, with word that COO/CFO Louis Santor is leaving "to pursue other opportunities."

The company said Santor, a nearly 20-year veteran of New Regency, helped select his replacement as CFO, former Groundswell Productions president Jonathan Fischer.

Fischer joined Groundswell as COO in 2008 and was named president in 2010. Before that, he was CFO at Intrepid Pictures, and before that, he was vice president, strategic and business development at Universal Pictures.

Santor will remain with the company to assist with the transition through the summer.

Robert Corzo, who has been deputy CFO, will stay with New Regency in an increased capacity.

In September, 2011, New Regency founder Arnon Milchan (right) replaced the company's chairs, Bob Harper and Hutch Parker, and appointed former Paramount Pictures production president Brad Weston as president and CEO. Later that month, he installed his daughter, Alexandra Milchan, as  executive vice president of production.

Also read: New Regency Chair Arnon Milchan Taps Daughter Alexandra as EVP of Production

In December, Milchan emailed his entire staff, saying, "I’d like to be reassured that if I don’t sleep, you don’t sleep. I can afford not to – you cannot. I’m contemplating a major decision, and before I do that, I need your feedback."

In that memo, first published by the Hollywood Reporter in February, Milchan wrote that, "We’re not here to continue the old regime creatively, but to create a new world. If this is not within your reach, please be honest with me. I’ve done it for the last 35 years and built a great company – I do not feel I deserve to have it evaporate."

In Monday's announcement of Santor's exit, Milchan makes clear that he holds the executive in high regard.

"It is with a heavy heart that I reluctantly accept Louis' resignation," Milchan wrote. "He is a homegrown talent, a devoted colleague, a trusted financial advisor, and above all, a friend. He has my support and help with all of his future endeavors."

For his part, Weston said that Santor "is leaving us in a wonderful position, having provided the financial leadership that has forged solid investor relationships, established the confidence of the financial community and solidified our line of credit."