Legendary Entertainment chairman, founder and CEO Thomas Tull is resigning under pressure from the company’s new Chinese owner – Dalian Wanda Group.
Tull founded Legendary in 2005 and sold to Wanda for a reported $3.5 billion in early 2016. He had been retained as CEO, but sources for THR suggest Wanda became frustrated with his management and recent projects.
With Tull out, Wanda’s CEO Jack Gao will lead Legendary as it seeks a full-time CEO. Mary Parent, the studio’s head of production, will stay on.
Legendary became an independent studio in 2013 based at Universal before selling to Wanda. Legendary’s past major tentpoles include “Godzilla,” “Pacific Rim,” “Jurassic World,” “Warcraft” and the open in some territories “The Great Wall’.
Legendary has several big-budget projects in development including a “Pokemon” film, a remake of “Dune,” and a China-set Dwayne Johnson action film. Tull will turn his focus to his Tull Investment Group, which invests in life science, media and technology companies.
He will remain involved as a producer on the Monsterverse movies and “Dune”.