David Forbes has resigned as president of...

David Forbes has resigned as president of Orion Pictures Distribution Corp. New York-based Orion said he will be replaced by Michael Kaiser.

The move comes as financially strapped Orion seeks to reach a restructuring agreement with bondholders. The company has suspended production and distribution of films.

Forbes, who oversaw distribution of such hits as “Silence of the Lambs” and “Dances With Wolves,” did not disclose his future plans. Kaiser previously worked as executive vice president of Seininger Advertising, where he helped create ad campaigns for “Driving Miss Daisy,” “Born on the Fourth of July” and other movies.