Hollywood producer Harvey Weinstein is taking an "indefinite" leave of absence from the Weinstein Company.
The news comes after the New York Times accused Weinstein of decades of sexual misconduct against his female assistants, employees and actors, resulting in at least eight private settlements.
The Hollywood mogul, 65, issued a lengthy statement after the article was published, acknowledging that his behaviour with colleagues had caused a "lot of pain" and he is apologising for it.
According to Variety, now the board has appointed John Kiernan, of Debevoise & Plimpton LLP, to conduct an independent investigation of sex harassment allegations.
"We strongly endorse Harvey Weinstein's already-announced decision to take an indefinite leave of absence from the Company, commencing today.
"As Harvey has said, it is important for him to get professional help for the problems he has acknowledged. Next steps will depend on Harvey's therapeutic progress, the outcome of the Board's independent investigation, and Harvey's own personal decisions," the board said in a statement.
Co-chairman Bob Weinstein and COO David Glasser will run the company in Weinstein's absence.
In the board meeting Weinstein made it clear that he intends to return. The board meeting got heated, as board members pushed back and argued for a full and independent investigation.
Tim Sarnoff, deputy CEO of Technicolor has tendered his resignation, while billionaire investors Marc Lasry and Dirk Ziff have already resigned from the board.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)