Shares in Entertainment One jumped as much as 15 per cent this morning after it rebuffed reports that boss Mark Gordon was in talks to leave the company.
President and chief content officer Mark Gordon is reportedly set to leave his role amid a dispute with senior executives at the Toronto-headquartered firm.
Entertainment One, which produces films and TV shows including Peppa Pig, is said to be laying out plans to oust the boss after it became clear he was not suited to managing a large organisation.
But the Canadian-based firm has issued a statement insisting Gordon will remain “part of the team both now and into the future”.
A spokesperson for Entertainment One declined to offer any further comment on the mooted dispute, which was first reported by Variety.
Gordon joined the firm last year in a newly-created role after Entertainment One bought out his production company in two transactions for a total of $342m (£270m).
Gordon’s roster of hit productions includes Grey’s Anatomy for ABC and CBS’s Criminal Minds. He also has credits films including Saving Private Ryan and 2012.
Last month Entertainment One posted a 43 per cent decline in pre-tax profit, which it blamed on an “unprecedented” acceleration of changes in consumer behaviour.
The decline came despite the surging popularity of the Peppa Pig franchise, which has proved a key driver of revenue for the London-listed company.