Annapurna's Marc Weinstock Exiting His Post as President

Marc Weinstock - Getty - P - 2016
Michael Buckner/Getty Images for SONY

He is leaving after less than two years in the post at Megan Ellison's production and distribution company.

Marc Weinstock is stepping down as president of Annapurna Pictures after less than two years in that role. According to company insiders, his decision to depart is amicable and he will not be replaced, but his duties will be distributed among other executives at Megan Ellison’s production and distribution company.

Weinstock joined Annapurna from 20th Century Fox, where he had been president of domestic theatrical marketing, at the end of 2016.

Weinstock, who prior to his stint at Fox served as president of worldwide marketing at Sony, had been overseeing development and production at Annapurna as it stepped up its activities and branched out into distribution. The widely respected executive is expected to announce his next move shortly.

While at Annapurna, he played a key role in striking a distribution joint venture with MGM that will handle the domestic release of the next James Bond movie, set for Nov. 8, 2019, as well as other MGM titles, including the upcoming Creed sequel. He also orchestrated a pact that will see Annapurna release the next LAIKA stop-motion animation film, Missing Link.

When Weinstock arrived at Annapurna, he was coming off such marketing wins as the breakout success of 2016's Deadpool, but his move to Annapurna gave him the chance to serve as president of production versus being a chief of marketing. At the same time, the past two years reflects the challenges in launching an indie studio. Ellison may have deep pockets, but Annapurna is still finding its footing.

Detroit, Annapurna's most high-profile 2017 release, collected just $16.8 million domestically, while Phantom Thread, which Annapurna produced and which was released through Focus, took in $46.7 million worldwide.

The company is currently gearing up for such releases as Boots Riley's racial satire Sorry to Bother You, which it acquired at Sundance; Barry Jenkins' If Beale Street Could Talk; Adam McKay's Backseat, starring Christian Bale as Dick Cheney; and Richard Linklater's Where'd You Go, Bernadette, starring Cate Blanchett.

Weinstock's departure is the latest shake-up in Hollywood's top executive ranks, underscoring the shifting sands as the film business tries to regroup amid competition from streaming services.

Pamela McClintock contributed to this report.