Imagine Entertainment created a CEO position when it hired former Endemol Shine North America co-CEO Charlie Corwin in late 2016. The company has reverted to its previous structure with no CEO following the exit of Corwin who quietly left the company in December after about a year in the job. He is believed to be raising money for a new media company, with Imagine among his investors.

“We totally believe in Charlie, in his entrepreneurial skills and passion and are invested in him going forward,” Imagine Entertainment co-chairman Michael Rosenberg told Deadline.

Corwin was brought in as part of a ramp-up of Imagine’s executive ranks as partners Brian Grazer and Ron Howard were starting to build a big independent studio with the $100 million investment the company received from Raine Group.

Over the past year, Imagine entered into a TV co-financing venture with Hong Kong based TVB Ventures, with TVB Ventures committed to investing $100 million to develop and produce Imagine Television projects. Imagine TV also inked a four-year co-financing, first-look agreement with CBS Corp. for scripted and unscripted television and long-form digital programming.

The company has remained aggressive following Corwin’s exit, acquiring comedy series producer Jax Media in February.

Corwin comes from entrepreneurial background. He co-founded and led Original Media as its CEO until Endemol acquired a majority stake in November 2007. He subsequently became co-CEO of Endemol Shine North America.