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Entertainment One announced on Wednesday that Noah Segal, co-president of eOne Films Canada, will be leaving the company to launch a new film production venture dubbed Toy Boat Pictures.

Segal joined eOne Films Canada as co-prexy, alongside Bryan Gliserman, following the company’s acquisition of Alliance Films in January.

At Alliance, Segal served as exec vice president of the company and was instrumental in building the Canadian biz, focusing on home entertainment, TV and digital divisions and content acquisition.

His past roles include exec vice president, worldwide marketing at Lionsgate Films and various role including vice president and general manager, English Canada at Malofilm Distribution.

“Noah’s business acumen, experience across all areas of the film industry and charisma have brought incredible partners to eOne,” said David Reckziegel, president, eOne Films North America. “We want to thank Noah for his leadership and his countless contributions. We also look forward to many future successes together.”

Said Segal: “This announcement is bittersweet. While I’m very excited to launch Toy Boat, I’m going to miss the incredibly gifted and talented team at eOne. However, they are in very good hands and I’m confident that I will work with them all again soon. The creative community in Canada is vibrant and it’s an opportune time to return to film production, which has always been a passion of mine.”

His departure is effective from August 30.

Gliserman continues to oversee eOne’s Canadian film business and reports to Reckziegel.