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Independent distribution specialist Alchemy has promoted Kelly Summers and Scott Guthrie to the posts of co-presidents while CEO Bill Lee has stepped down.

Lee will continue as adviser to the board and investor in Alchemy. Its higher profile titles have included  “Meet the Patels,” “Fading Gigolo” and “What Maisie Knew.”

“It has a been a privilege to lead Alchemy and work alongside some of the best leaders in the business,” Lee said. “After many years with the company, it’s time to hand over the reins to a new team of talented executives. I look forward to working with the Board and our team to ensure a smooth transition.”

Guthrie will be responsible for leading sales, operations and finance and Summers will oversee strategic planning, marketing and production/acquisitions. Both will report to Chairman Jesse Watson.

“We’re excited by Alchemy’s vision for serving the independent creative community with one-stop access to production services and all channels of distribution,” Watson said. “Scott and Kelly’s combined experience make them the perfect team to lead the next chapter of growth.”

Guthrie most recently served as Alchemy’s chief operating officer while Summers held the post of vice president of strategy and financial planning.

“We have an enduring respect for the artists and filmmakers who are the foundation of our business and a deep commitment to exceed the expectations of our partners,” the duo said. “Our vision demands a high degree of integration and collaboration across all functions, with consumer-driven distribution strategies supported by innovative marketing.”

Alchemy made three acquisitions at Cannes — Yorgos Lanthimos’ “The Lobster,” starring Colin Farrell, Rachel Weisz and Lea Seydoux; U.S. distribution rights to Gaspar Noe’s sex-infused drama “Love”; and U.S. rights to Italian director Nanni Moretti’s dramedy “Mia Madre.”

Alchemy rebranded itself last year from its former Millennium Entertainment moniker and has been acquiring rights this year to film festival titles such as Mitch Dickman’s marijuana documentary “Rolling Papers,” Antoine Bardou-Jacquet’s action-comedy “Moonwalkers” and post-apocalyptic thriller “The Survivalist.”