The producer initially took a leave of absence from the company, following an exposé published on Thursday by The New York Times detailing decades of allegations of sexual harassment against him.
The board said that as a result of new information related to Weinstein’s conduct that has come to light over the last few days, the directors determined to terminate his employment with the company.
The New York Times article cited allegations from actress Ashley Judd, as well as numerous former employees at both the Weinstein Co. and Weinstein’s former company, Miramax.
Lisa Bloom, representing the under-fire producer, both acknowledged and defended Weinstein’s conduct, saying he had been “stupid”.
Bloom acknowledged the courage it took the women to report the alleged wrongdoing, and then dismissed the allegations as being overblown. She said many of the allegations consisted of her client telling a woman she “looked cute without my glasses”.
The company said that it will be conducting its own internal investigation into Weinstein’s conduct.
Weinstein was a known donor to a number of Congressional Democrats, including Senate Minority Leader Chuck Schumer and potential presidential candidate Elizabeth Warren. On Friday, following the breaking of the story, many of the politicians he supported financially donated the thousands of dollars they received from him to charity.
It initially appeared as though the movie mogul would try to weather the storm when he announced that he was taking a leave of absence from the company he created.
However, with the board’s decision to fire him, many are wondering if he will have a career to return to once the investigation has been completed.