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Veteran studio executive Lee Rosenthal is leaving Paramount Pictures, it was announced internally on Tuesday.

In a memo from Paramount Motion Picture Group President Emma Watts, staff was informed that Rosenthal was “departing Paramount Pictures to pursue other opportunities.” His most recent title was head of physical production.

“Lee has been a driving force in many of the company’s past and recent successes, including ‘The Big Short,’ ‘Rocketman,’ and such franchises as ‘Mission: Impossible,’ ‘Star Trek,’ ‘Paranormal’ and ‘Transformers,’ among many others,” Watts wrote. His next steps and potential replacement were not immediately clear.

Watts, the stalwart 20th Century Fox production president who enjoyed a brief stint at Disney following its historic acquisition of 20th’s assets, reunited with Paramount Pictures CEO Jim Gianopulos last year. She recently named Daria Cercek and Michael Ireland as co-presidents of her division at Paramount, tasked with rebooting the “Tranformers” and “Star Trek” cinematic franchises, and working on Sandra Bullock’s romantic adventure “The Lost City of D” and a sequel to the hit hybrid animation “Sonic the Hedgehog.”

Read Watts’ full memo:

Dear All,

As you may have heard, our longtime colleague Lee Rosenthal is departing Paramount Pictures to pursue other opportunities. For more than a quarter century, Lee has been a vital and beloved member of the Paramount family, including most recently in his role overseeing physical production for the studio. Lee has been a driving force in many of the company’s past and recent successes, including The Big Short, Rocketman, and such franchises as Mission: Impossible, Star Trek, Paranormal and Transformers, among many others.

We extend our gratitude to Lee for his many contributions and wish him the very best in the future.

Emma