Cadle founded Blue with backing from the VTR Group in March 1995 and was the managing director from then until last week. Cadle's immediate future is uncertain. John Banks, managing director of the VTR Group plc, said: 'All I can say is that Dave Cadle is no longer working for the VTR Group.'
The VTR Group plc will be restructured into three divisions with VTR Media Services Ltd - comprising Soho assets Blue, The Machine Room and VTR - sitting alongside west London post facility K
Banks said: 'We have several successful company brands but we haven't really taken advantage of the VTR Group. One can tell we could be a significantly more efficient unit and should stop duplicating our efforts.'
As part of the reshuffle, Ant Frend, former managing director of VTR, has been appointed director of post-production. He will preside over the three restructured divisions. Kate Sturgess has been promoted from facilities manager to managing director at VTR.
Digital communication service provider Clipstream is due to be incorporated into The Machine Room as of the new financial year starting 1 September; the division will continue to operate under the name The Machine Room. Clipstream's former managing director, Neil Lane, will take over as managing director of The Machine Room.
The three new managing directors, Whybrow, Sturgess and Lane, are conducting a review of their respective divisions and are due to report back to the board in what is believed to be weeks rather than months.
VTR would not comment on whether the restructure would result in redundancies. John Banks stated: 'I cannot comment on what may or may not happen until the review is complete. Everything is under review.'
Although VTR has seen a recovery as demonstrated in its interim figures compared with last year, Blue's profitability was down compared to the previous year.
Blue's credits include Feltham Sings, Pompeii - the Last Days and As If.