Weinstein on 'indefinite leave' during harassment inquiry

NEW YORK (AP) — Movie mogul Harvey Weinstein is on indefinite leave from the company he co-founded while an internal investigation into numerous sexual harassment allegations against him is completed, The Weinstein Co.'s board of directors announced today.

In a statement, the board said Weinstein's future with the company depends on his therapeutic progress and the results of the internal investigation. It said Weinstein's leave commenced today.

"Next steps will depend on Harvey's therapeutic process, the outcome of the board's independent investigation and Harvey's own personal decisions," the statement read.

The announcement came a day after The New York Times reported Weinstein has over the years reached at least eight legal settlements with women over alleged harassment.

"We believe it is important to learn the full truth regarding the article's very serious accusations, in the interests of the Company, its shareholders and its employees," the company said in a statement signed by four of six remaining board members. Board member Dirk Ziff, a billionaire investor, resigned Thursday.

Atty. John Kiernan of the firm Debevoise & Plimpton LLP was named the head of the internal investigation. The Weinstein Co. board did not give a time frame for when the investigation would be completed.

Representatives did not immediately respond to questions about Weinstein's status with the film company. A source told The Associated Press earlier today Weinstein would be suspended from the company. Today's statement only said it "strongly endorsed" Weinstein's decision to take the indefinite leave of absence.

Weinstein's attorneys also did not respond to emails seeking comment.

The Times expose chronicled allegations against Weinstein from actress Ashley Judd and former employees at both the Weinstein Co. and Weinstein's former company, Miramax.