Harvey Weinstein resigns from board of company he started

NEW YORK -- Harvey Weinstein is leaving the board of the film company he started, more than a week after the firm fired him following allegations of sexual harassment and rape. 

The Weinstein Company's Board of Directors said in a statement Tuesday that Weinstein resigned.

Weinstein holds a roughly 20 percent stake in his company, the Associated Press reports, citing a person close to Weinstein who was not authorized to speak publicly about the matter and who declined to comment on the future of that holding. 

Industry players have cut ties, or threatened to cut ties, with The Weinstein Co. in the aftermath of the abuse allegations. Board member Tarak Ben Ammar said Monday that it was negotiating a potential sale of all or part of the company. 

The company fired Weinstein on Oct. 8, days after he was accused of sexually harassing women for decades in an expose by The New York Times. Subsequent stories by the Times and The New Yorker included allegations of abuse, and more than three dozen women have publicly accused the disgraced mogul of abuse.

The Weinstein developments have touched a nerve with people all over the world who are speaking out using the hashtag #MeToo on social media. 

The Producers Guild and the Academy of Motion Picture Arts and Sciences have both cut ties with Weinstein.