Relativity Media chairman and CEO Ryan Kavanaugh is stepping down from those positions with his financially embattled company. Kavanaugh founded Relativity more than a decade ago.
The Wrap got the scoop and also reported that Relativity Media’s president Dana Brunetti is also leaving the company after only a year in the job.
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The news comes after a tumultuous few years for Relativity which went into bankruptcy protection. Creditors are still trying to recover more than $1 billion owed and law suits abound over various deals. Relativity Media has only 30 employees left and is reportedly having trouble paying their salaries.
Ryan Kavanaugh has received much of the blame for Relativity Media’s troubles.
