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Report: Wanda, Legendary exec quits

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Report: Wanda, Legendary exec quits

Dalian Wanda Group Co. Ltd. Senior Vice President and Legendary Entertainment interim CEO Jack Gao has resigned due to regulatory headwinds in China, according to The Hollywood Reporter, citing sources familiar with the matter.

Gao joined Wanda in 2015, serving as CEO of international investments and operations, on top of his duties at Legendary. Dalian Wanda and three other conglomerates had been the target of regulators, with China's state banks told to cease lending money to the four companies for international expansion purposes.

Wanda Film Holding Co. President Zeng Maojun will occupy Gao's post at Legendary, while the U.S. studio's head of production, Mary Parent, will reportedly stay on.