RGM Media chairman Greg Coote has resigned from the Singapore-based talent agent and production house.
In a statement released by the company, Coote said: “Due to emerging commitments I am now unable to devote the necessary time to the RGM Media board”.
His stint on the board ends after less than a year. The respected film executive was encouraged to join the company by the Singapore government's Media Development Authority, where he sits on an advisory board. In May, he also oversaw the inaugural ScreenSingapore event, which was aimed at promoting the region as a new cinematic hub.
Coote did not name his other commitments but he has previously said he is actively pursuing projects to produce.
After years of delays and millions of dollars in development costs, RGM Media this month sold the rights to the Point Break surf movie sequel to production company Alcon Entertainment. However, the deal had no material impact on RGM's profit forecasts.
The company recently announced a $2.56 million half year net loss after continued investment to build its production business.
RGM thanked Coote for his work and said RGM chief executive Timothy Morrison will act as executive chairman while the board undertakes a global search for a replacement.