Tom Cruise's longtime producing partner Paula Wagner is stepping down from her post as CEO of United Artists.

According to a joint statement from UA and MGM, Wagner "has decided to leave her day-to-day responsibilities and return to her first love, which is producing films." She will continue to work on film projects with Cruise, whose role with UA will not change.

Wagner will produce films under her own independent production company and will "be attached to UA's most exciting film properties," and will also continue to be part owner of UA, which she helped revive in 2006 under joint partnership with Tom Cruise and MGM. Her most recent production, 'Death Race,' will be released by Universal on Aug. 22.