Joined by colleagues Sue Wagner, John Johnson and Nate Koch, the team will operate out of Parnes’ current Times Square office.

Primarily focused on producing and managing plays and musicals for Broadway, Joey Parnes Productions, according to a press statement, will also provide "executive producer and general management services for a wide range of theatrical ventures including non-profit theater consulting and working with non-profits on Broadway transfers."

The office will produce End of the Rainbow, the acclaimed play from London about the legendary Judy Garland due on Broadway this spring. Parnes will also continue to partner with the Public on the national tour of Hair.

“We are developing new projects on our own as well as in partnership with other independent producers,” Parnes said in a statement. “And I like the idea of helping non-profits bring commercially viable shows to the Broadway arena. Mostly, we want to have fun doing meaningful work we believe in with people we enjoy.”

To read Playbill.com's recent interview with Parnes, click here.