Mark Borde, for the past three years president of theatrical distribution at Byron Allen’s Entertainment Studios, is leaving the company, it said Monday.

In 2015, Borde sold his Freestyle Releasing to Allen, who then formed Entertainment Studios Motion Pictures. Among ES’ highlights have been 47 Meters Down, a film it rescued from Dimension, which originally had plans to put the Mandy Moore movie straight to video. Allen stopped the trucks from delivering the pic’s DVDs to Walmart and ultimately released the movie in June 2017, where it made $44.3 million.

Following that, Entertainment Studios released its Toronto acquisitions Hostiles and Chappaquiddick which grossed $29.8M and $17.4M stateside, respectively. Entertainment Studios’ next release will be the Keanu Reeves sci-fi pic Replicas opening January 11.

The company recently played its documentary Hondros at the UN on Friday. The doc won the Albert Maysles New Documentary Director Award – Special Jury Mention at the Tribeca Film Festival last spring.

Borde has been a part of the independent movie business as a distributor, film producer, theater owner, and as a voting member of the Academy of Motion Pictures Arts and Sciences in the Producers Branch. He was recently honored on at the 2018 ShowEast convention in Miami, where he received the Al Shapiro Distinguished Service Award. He will soon join the Napa Valley Film Festival activities as part of the faculty later this month.

“Mark Borde, a second-generation movie distribution entrepreneur, co-founded Freestyle Releasing over 17 years ago with the late, great Susan Jackson. One day at lunch in 2015, Mark graciously agreed to sell me the company, instantly putting our corporation into the movie business,” said Allen, founder, chairman and CEO of Entertainment Studios/Allen Media. “Since acquiring Freestyle, Mark has helped me to build a first class, wide-release, international independent film distribution company at Entertainment Studios Motion Pictures. Mark’s reputation as a consummate professional is well-deserved, and I know he will continue to make a lasting impact on our industry for years to come. All of us at Entertainment Studios look forward to working with Mark again as he pursues the next phase of his very distinguished career.”

Said Borde: “Byron Allen is a brilliant businessman, a visionary, with unbelievable energy, and simply an unstoppable force of nature. I loved working with Byron and the phenomenal team he has assembled. I have put my legacy in the right hands, and I am highly confident he will take this company to extraordinary new heights.”