"His employment is terminated, effective immediately."
9 Oct 2017 - 12:11 PM  UPDATED 9 Oct 2017 - 12:11 PM

The Weinstein Company’s board of directors has voted to remove Harvey Weinstein from the studio he co-founded, as a result of the spiralling sexual misconduct scandal that is gripping Hollywood.

“In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of The Weinstein Company — Robert Weinstein, Lance Maerov, Richard Koenigsberg and Tarak Ben Ammar — have determined, and have informed Harvey Weinstein, that his employment with The Weinstein Company is terminated, effective immediately,” the statement reads.

Weinstein has been rocked by a devastating New York Times report that itemised a series of legal settlements stemming from sexual harassment allegations levelled by former employees and associates spanning several decades, as well as accusations of unwanted sexual advances from a number of actresses including Ashley Judd. Several allegations pre-date The Weinstein Company, and describe events that allegedly took place when the Weinstein brothers ran Miramax, an independent studio that was then owned by the Walt Disney Co.

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Harvey Weinstein to take leave of absence following bombshell N.Y. Times harassment report
Big time Hollywood producer Harvey Weinstein is taking a leave of absence from the Weinstein Co. following a bombshell report in the New York Times about sexual harassment accusations dating back decades.

According to Variety, Weinstein did not agree to leave the company, and there is no financial settlement in place.  He was "fired for cause" following a board meeting on Sunday.

On Friday, the Weinstein Company board suspended Weinstein and said there would be an internal investigation, which will continue.

See the full story at Variety.com