Relativity Media president Tucker Tooley, who helped guide the company for the last eight years and through a two-month-long bankruptcy, is leaving the company in 30 days, Relativity CEO Ryan Kavanaugh and Tooley announced Monday.
The departure comes just as Relativity is trying to win approval for the sale of its television division to a group of senior lenders and the rest of the multimedia company to an investor group headed by Kavanaugh.
Tooley has overseen Relativity Studios, which was responsible for some of the most successful films at the struggling company, including “The Fighter,” “Limitless,” “Immortals” and “Act of Valor.” He also produced the 2103 hit “We’re the Millers,” starring Jason Sudeikis and Jennifer Aniston.
“Tucker has been instrumental in building Relativity Studios and in the growth of our company,” Kavanaugh said in a statement. “I am proud to call him one of my most trusted colleagues and friends. He has overseen and was the creative force behind some of the company’s biggest hit films. This is the beginning of a new chapter, and we expect to have a long-term relationship moving forward.”
Tooley’s immediate plans remain unclear.
He thanked Kavanaugh and said in a statement: “I admire what he has built and am grateful to have contributed to the growth of Relativity. Now that the company has a clear path to emerge from Chapter 11, I have decided to re-focus my efforts on filmmaking and the creative side of the business. I expect to work closely with Relativity in my new capacity and will announce my plans shortly.”
Ramon Wilson, general manager and a nine-year employee of the company, will become interim president.