Adam Luckwell has been appointed as the new chief executive of post-production facility Unit following the resignation of founder and former CEO David Peto.

Luckwell, who previously held the position of commercial director at the company, will begin the role with immediate effect.

Broadcast understands that Peto resigned following a board meeting on Monday morning. His stake in the company has been bought out.

According to a company statement, Peto intends to use capital from the sale of his shares, together with other funding, to set up a new company in the media space.

Peto said: “Being CEO of a start up is exciting, rewarding and daunting. I have enjoyed it and I am extremely proud of what I, and my partners in Unit, have achieved. I now have an opportunity to be CEO and have a larger share holding in a new and exciting venture.”

Luckwell joins the existing management team of Tom Bridges, creative director, and Roland Woolner, special effects director.

The new chief exec was full of praise for the work that Peto had done. “David has done an amazing job creating Unit from just an idea,” he said. “We wish David good luck with his new venture and look forward to our continued expansion in 2009.”

Peto had recently taken up a position on Skillset's Facilities Skills Council.

Unit, founded in May 2006, is an all-online, Apple Mac-based HD finishing house.