Paramount Pictures formally announced that Adam Goodman is leaving his job as president of its film group and has been offered a production deal.

In a memo to staff, Paramount Pictures Chairman Brad Grey praised Goodman’s work ethic and passion for film.

“His skill at making our pictures as good as can be is among his many meaningful contributions to our studio, and I am truly grateful,” wrote Grey.

The Paramount chairman said that he expects to have decided on a replacement for Goodman within the next 60 days. Paramount is considering promoting Goodman’s replacement from within its ranks, but is also looking at candidates from outside the studio, insiders say.

There’s still a year left on Goodman’s current pact, it appears that the studio and the executive are close to unwinding those details. Paramount has had a number of recent hits, such as “The SpongeBob Movie: Sponge Out of Water,” but insiders say that Goodman was faulted for not having enough films in production. The studio wants a more robust slate.

Goodman has been at the studio since 2008 and played a vital role in shepherding a number of key projects to the screen, such as their recent “Teenage Mutant Ninja Turtles” reboot, “Mission:Impossible – Ghost Protocol” and the “Paranormal Activity” franchise.

Goodman began his career in movies while still in high school, working as a production assistant on “Home Alone” producer John Hughes’ films. He later joined DreamWorks as an assistant, rising up the ranks to become president of production.

Here’s the full memo:

I am writing to let you know that Adam Goodman is transitioning out of his role at Paramount Pictures. We have offered him a production deal on the lot and hope to continue our relationship moving forward.

Adam has served as President, Paramount Motion Picture Group, since 2009. During his tenure, he has shepherded a diverse and successful slate of films, which he and his team worked on tirelessly and with great passion. His skill at making our pictures as good as can be is among his many meaningful contributions to our studio, and I am truly grateful.

Adam leaves behind a deep and very strong group of talented senior creative executives who will help drive our future as we plan our precise creative management structure. To that end, I expect to have finalized our decision about a successor within the next sixty days.

I want to thank Adam and know you all join me in wishing him well in his next step.