Exec leaves after 10 months as CEO
BERLIN — Konstantin Thoeren has ankled troubled film group Internationalmedia after just 10 months as CEO.
Thoeren, who resigned with immediate effect Aug. 9, joined the group last October after the collapse of its feature production “Stopping Power” just days before it was to begin shooting in Germany and following the exit of former topper Martin Schuermann.
A producer and former head of UFA Intl., Thoeren had hoped to lead the company in a new direction after the “Stopping Power” fiasco not only as the group’s CEO but also as president and chairman of Los Angeles-based Intermedia Film Equities USA, and managing director of Intermedia Film Equities in London.
Sascha R. Prestel will remain the sole member of Internationalmedia’s management board while the company searches for a replacement to head its production subsidiaries.
Internationalmedia was forced to pull the plug on “Stopping Power” last August when financing fell through. The collapse of the film, which was to be directed by Jan de Bont with actor John Cusack set to star, left a major dent in the company’s bottom line, contributing to the company’s $22 million loss last year.
In July, Cusack slapped Internationalmedia with a $5.6 million lawsuit in connection with the film’s cancellation and his unpaid wages.
The company dismissed the claim, saying it was no longer liable for the contract or Cusack’s salary since it had sold the film’s production unit IM Stopping Power, along with its liabilities, to Los Angeles-based R Media Acquisitions in September.