MGM’s Stanfill Expected to Quit the Studio : Entertainment: The move will leave Alan Ladd Jr. solely in charge as the company’s future becomes even more uncertain.

Hollywood veteran Dennis Stanfill is expected to resign today as co-chief executive of the ailing Metro-Goldwyn-Mayer studio, leaving Alan Ladd Jr. solely in charge.

The announcement of Stanfill’s departure will come after a regularly scheduled meeting of MGM’s directors in Paris, sources close to the bank and studio said. One studio source said Stanfill is likely to be given a consulting contract.

MGM is owned by the French bank Credit Lyonnais, which officially took possession of the Santa Monica-based studio last year after foreclosing on its former owner, Italian businessman Giancarlo Parretti.

The executive shake-up comes as the French government disclosed Wednesday that Credit Lyonnais is one of 21 state-controlled businesses to be spun off to the private sector, a development that is likely to create even more uncertainty about the studio’s future.

The bank must sell the studio by 1997, but some conservative French politicians have called on it to cut its losses more quickly. Credit Lyonnais recently hired the powerful Creative Artists Agency to help work out a plan for selling the studio. Several prospective buyers, including cable magnate Ted Turner have been mentioned, but thus far no one has emerged.

Stanfill, who is in Paris, could not be reached for comment on his status. Exactly how much pressure the 66-year-old Stanfill was under to quit is unknown. A Credit Lyonnais source characterized his leaving after 18 months on the job as voluntary, adding that the bank was pleased with him.

But studio sources say Stanfill has been frustrated in the job, where his clout has diminished considerably in recent months and where he has been frequently overruled.

As an example, Stanfill is known to have opposed a recent agreement in which MGM will distribute Carolco Pictures films starting next year, after the company’s agreement with TriStar Pictures expires.

Stanfill’s contract has six months remaining.

Securities filings show he earns $2.5 million a year, with a potential bonus of up to $750,000 at the MGM board’s discretion.

Stanfill’s severance agreement calls for him to receive his unpaid salary through this year, and an additional $2.5 million if he is either fired or chooses to leave “with cause.” Stanfill maintained a low profile at MGM, but he is known to have regularly battled with Ladd, the soft-spoken executive who came in under Parretti.

Their working relationship dates back to the 1970s, when Stanfill was Ladd’s boss at 20th Century Fox. The two enjoyed huge success with “Star Wars” there, but still clashed over other projects. Ladd left in 1979, while Stanford left two years later after Fox was acquired by Marvin Davis.

At MGM, the two have been frustrated in efforts to revive business. The studio had a 3.7% market share as of Sunday, based on five films released this year. MGM does not have a major entry in the summer sweepstakes, when studio’s earn a significant portion of their annual revenue. MGM’s biggest hit this year is “Benny and Joon,” which has taken in $19 million at the domestic box office.