Longtime Paramount Pictures executive Elizabeth Raposo is leaving her post at the studio, Variety has learned.

Raposo has served as Paramount’s president of production since 2017, where she’s been the studio shepherd for all franchise material and event-based intellectual properties.  News of Raposo’s exit was announced by newly-minted motion picture group president Emma Watts.

“Elizabeth Raposo is leaving Paramount Pictures. She has been an invaluable part of the Paramount family for 15 years, including the past three years in her role as president of production for our Motion Picture team,” Watts wrote in a memo on Thursday.

Raposo worked in concert with the likes of Lorenzo di Bonaventura, producer on the massive “Transformers” series. Under Jim Gianopulos, she was known as a more commercial-facing executive meant to counterbalance the efforts of other motion picture labels like Paramount Animation and the low-budget slates of Paramount Players.

Watts, seen as a savior for the legendary studio, rejoined Gianopulos and other former 20th Century Fox cohorts this summer. In her memo, she lauded Raposo’s contributions including awards films and family fare. Raposo’s future plans are currently unclear.

“With her great taste and incredible talent relationships, Liz has been instrumental in many of the company’s past and recent successes, including ‘Sonic the Hedgehog,’ ‘Rocketman,’ ‘A Quiet Place,’ ‘Mission: Impossible—Fallout’ and Bumblebee as well as the latest Star Trek films and the upcoming Top Gun: Maverick, among many others. We thank Liz wholeheartedly for her years of service and countless contributions to the studio, and wish her the very best,” Watts concluded.

https://variety.com/2020/film/news/paramount-pictures-elizabeth-raposo-steps-down-as-production-president-1234766281/