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Michael Porseryd is set to exit SF Studios, the Nordic powerhouse behind Tom Hanks starrer “A Man Called Otto,” as CEO.

News comes as a shock to everyone as Porseryd recently spoke to Variety about the company’s involvement in “A Man Called Otto,” following a successful press launch of the film with Hanks and Rita Wilson who were on hand in Stockholm.

SF Studios’ chairman of the board, Jan Bernhardsson, will assume the role as acting CEO in the interim. SF Studios’ board of directors are now starting the process of recruiting a new permanent CEO.

During Porseryd’s six-year tenure as CEO, the company developed a bigger presence in the local and international production landscape, notably with “Horizon Lines” and most recently with “A Man Called Otto,” as well as some big-budgeted upscale period movies such as Erik Poppe’s “The Emigrants” and Björn Runge’s “Burn All My Letters.”

It also expanded the company’s portfolio of production labels, including FLX which delivered the comedy series “The Bonus Family” and the spinoff movie which topped the Swedish B.O. in 2022. The executive also forged strong ties with streamers during his years at SF Studios, including with Netflix for “Red Dot,” the service’s first Swedish movie, as well the Danish thriller “Loving Adults,” costume drama “Ehrengard” and acclaimed Swedish series “Snabba Cash.” SF Studios has also partnered with local streamers, such as Viaplay and CMore.

“I want to thank Michael Porseryd who, during his six years as CEO of SF Studios, has led the transformation of the business from a distribution-focused company to also strengthen its production business,” said Bernhardsson.

“The change has been successful and recently peaked with the premiere of “A Man Called Otto”, the English version of the Swedish “En man som heter Ove”. SF Studios is now entering a new phase where the company will take the next step on its strategy. The goal is for the operations to grow even further”, added the executive.

More to come.