FILE - In this March 2, 2014 file photo, Harvey Weinstein arrives at the Oscars at the Dolby Theatre in Los Angeles. The Producers Guild of America has voted unanimously to institute termination proceedings for Harvey Weinstein. The PGA’s National Board of Directors and Officers said Monday, Oct. 16, 2017, that Weinstein has an opportunity to respond before a final decision is made on Nov. 6. (Photo by Jordan Strauss/Invision/AP, File)
Republished October 17, 2017 - 2:14 PM
Original Publication Date October 17, 2017 - 12:41 PM
NEW YORK - Harvey Weinstein is leaving the board of the film company he started, more than a week after the firm fired him following allegations of sexual harassment and rape.
The Weinstein Co.'s board said in a statement Tuesday that Weinstein had resigned. Weinstein holds a roughly 20 per cent stake in his company, according to a person close to Weinstein who was not authorized to speak publicly about the matter. The person declined to comment on the future of that holding.
His departure from the company comes as it deals with turmoil in the aftermath of more than three dozen women publicly accusing Weinstein of abuse. Industry players have cut ties, or threatened to cut ties , with The Weinstein Co. The Producers Guild of America has started the process of expelling Weinstein, and the Academy of Motion Picture Arts and Sciences, the group behind the Oscars, has revoked his membership.
Board member Tarak Ben Ammar said Monday that it was negotiating a potential sale of all or part of the company, which was founded in 2005 by Weinstein and his brother Bob Weinstein after they left Disney.
Bob Weinstein had maintained last week that business was continuing "as usual" for the company and that its board was not exploring a sale or shutdown.
Company representatives did not immediately respond to questions Tuesday.
News from © The Associated Press, 2017