The two most senior officials at MGM motion picture group have revealed they will be leaving the studio, just one month after its takeover by Amazon.

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Chairman Michael De Luca and president Pam Abdy have both announced their departures, claiming in a joint memo that "now is the right time for us to move on".

"A little over two years ago we came to MGM to help restore its vibrancy among the storied studios of the last century and we are proud to say, thanks to all of you and your efforts, it is mission accomplished," the pair wrote in the statement, as reported by Deadline.

"With our goal achieved, and as we look ahead, we feel now is the right time for us to move on and explore our next chapter and challenge. We will depart our roles this summer."

They added that they were "confident that the exciting vision Prime Video and Amazon Studios has for MGM and the organization Mike Hopkins is building along with Jennifer Salke and team, will guarantee MGM’s continued success."

The news could have particular repercussions for the future of the James Bond franchise – it is believed that Bond producers Barbara Broccoli and Michael G. Wilson had a good working relationship with De Luca and Abdy, and it's now unclear who they'll be working with on future releases.

Meanwhile, Mike Hopkins, the Senior Vice President of Prime Video & Amazon Studios thanked the departing duo, and said their exits in the summer, "will allow us to continue the phased and measured approach to integration with Prime Video and Amazon Studios."

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