“It is in the best interest of WarnerMedia, Warner Bros., our employees and our partners for Kevin to step down as chairman and CEO of Warner Bros.,” said WarnerMedia CEO John Stankey in a statement. “Kevin has contributed greatly to the studio’s success over the past 25 years and for that we thank him. Kevin acknowledges that his mistakes are inconsistent with the company’s leadership expectations and could impact the company’s ability to execute going forward.”

Source: Los Angeles Times March 18, 2019 17:25 UTC