Metro-Goldwyn-Mayer confirmed Wednesday that Michael E. Marcus, head of its MGM Pictures unit, has resigned.
A former Creative Artists Agency agent whose clients included actor Tom Cruise, Marcus made the transition to studio executive in 1993 as part of the group trying to rebuild MGM under veteran Hollywood executive Frank Mancuso.
Last year, financier Kirk Kerkorian teamed with Australia’s Seven Network and Mancuso to buy the studio from the French bank Credit Lyonnais for $1.3 billion. MGM has been under pressure to contain overhead costs, with several senior executives leaving.
MGM said the company will search for a replacement for Marcus, adding that it intends to keep separate production operations under its MGM and United Artists banners.
John Calley, who was Marcus’ counterpart running United Artists, left the company last fall to run Sony Pictures Entertainment. He was replaced by Lindsay Doran.