Jim and Elizabeth Wiatt to Divorce

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The former William Morris Agency chairman and CEO and his wife will continue living together in their Brentwood, Calif. home for now.

Former William Morris Agency chairman and CEO Jim Wiatt and wife Elizabeth are splitting up, Wiatt's spokesman confirmed to The Hollywood Reporter.

The Wiatts have not yet filed divorce papers. They will continue living in their Brentwood home for now and raise their children together. "It's a completely boring, non-Hollywood divorce. There's no drama in this one," says a friend.

Wiatt is currently a strategic advisor at AOL. He stepped down from the company's board last October in order to play a larger role in AOL businesses, expanding AOL's development of content, partnerships and relationships across the entertainment and media sectors.

The agency veteran joined AOL's first post-Time Warner merger board in fall 2009.

He told THR of his role at AOL in 2010, "We are still in the beginning stages of content opportunities on the Internet and social networks. And we are looking at how this will all translate to mass audiences and advertiser relationships."

Elizabeth Wiatt serves on the board of the Natural Resources Defense Council and was co-owner of the short-lived teen clothing store, Fashionology L.A.