Harvey Weinstein has resigned from The Weinstein Company's board while retaining almost a quarter of the company's stock, despite numerous women making allegations of sexual harassment and assault.
Variety magazine reported that Weinstein still owns a 22 per cent stake of The Weinstein Company — a production company he co-founded with his brother.
Weinstein and his brother, Bob Weinstein, own 42 per cent of the company together.
The Weinstein Company board announced Weinstein's departure on Tuesday, and ratified its October 8 decision to fire Weinstein as chief executive of the award-winning movie and television company.
The company said on Monday that it was in talks to sell the bulk of its assets to private equity firm Colony Capital, as it attempts to chart a future without Weinstein.
Although official valuation of the privately owned company is not available, Weinstein told Hollywood Reporter in 2016 that The Weinstein Company was worth $US700-800 million, but many believe this figure to be exaggerated as a response to ongoing financial struggles for the business.
Weinstein has been accused of rape, sexual assault and harassment, but has "unequivocally denied" any allegations of non-consensual relationships.
Car company Lexus, a sponsor for the reality television show Project Runway, which The Weinstein Company produces, said it was evaluating its partnership with the company, "in light of recent allegations, involving Harvey Weinstein".
In the statement, Lexus said it "does not condone any acts of sexual harassment, assault or discrimination".
Amid the fallout over the scandal, Amazon Studios chief Roy Price also resigned, following allegations that he harassed a producer and took no action when an actress told him she was sexually assaulted by Weinstein.
The Hollywood Reporter last week reported an allegation by Isa Hackett, an Amazon producer, that Price had lewdly propositioned her in 2015.
A lawyer for Hackett confirmed the allegations, saying an "important conversation has begun" for the entertainment industry, to create a culture which values respect and "rejects the abuse of power and dehumanising treatment of others."