Legendary Entertainment's chief executive has stepped down to be replaced with a Dalian Wanda insider

 
Courtney Goldsmith
Follow Courtney
Tull said in a statement the firm was in stable hands
Tull said in a statement the firm was in stable hands (Source: Getty)

Legendary Entertainment's chief executive Thomas Tull told Reuters today he would step down from the business.

The Hollywood studio was bought at the start of last year by Chinese conglomerate Dalian Wanda for $3.5bn (£2.8bn), and now Wanda insider Jack Gao is set to take the top job.

Legendary, which has brought films like Jurassic World, The Hangover and the Batman Dark Knight trilogy to the big screen, said in a statement Tull "resigned" but gave no reason for his departure. It said he would continue as a "founding chairman".

Wanda chairman Wang Jianlin, who happens to be China's richest man, bought Legendary in a move to diversify his business overseas.

"Wanda aims to transform Legendary into a next generation studio ... with a far-reaching creative and global platform," interim chief executive Gao said in the statement.

"We are thankful to Thomas for his founding vision."

Wang is working to bring Hollywood to China – in November, Wanda agreed to a $1bn takeover of Golden Globe producer Dick Clark Productions, it owns US cinema chain AMC Entertainment and it has business ties with Sony Pictures.

Read more: Is China's richest man about to serve an ace with Badminton?

Related articles