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Olmstead ankling Nelvana

TORONTO — Nelvana Ltd. executive VP Eleanor Olmstead will leave the company Oct. 31 to pursue other interests, the Toronto-based animation production house said Monday.

Olmstead has been associated with Nelvana since 1981 and was appointed chief operating officer and general counsel when Nelvana went public in 1994.

She was given her new title this summer as part of a management restructuring that eliminated the COO job.

Nelvana said it will take a special charge of C$1.15 million ($840,000) in the third quarter ended Sept. 30 related to employee termination payments and a cost-reduction program.

The company also announced the creation of four new operating divisions to handle a planned increase in proprietary production volume.

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