Tom Sherak Leaving Fox for Roth Venture

Tom Sherak, chairman of 20th Century Fox’s Domestic Film Group, is leaving the studio after 17 years to become an equity partner in former Disney Chairman Joe Roth’s new venture, Revolution Studios.

Sherak was responsible for the roll-out of such high-profile films as “Titanic,” “Die Hard,” “Alien,” “There’s Something About Mary” and “Wall Street,” among others. This move has been the subject of rumors ever since Roth announced his Santa Monica-based independent film company in January.

Sherak was a popular executive during several administrations at Fox, including Roth’s tenure as studio head, and is well-regarded in the industry and the media community.

He expressed mixed feelings about leaving the studio after 17 years. “I’m going to miss everything about Fox, and I’m sure it will take me some time to adjust. But the timing is right,” he said.

Fox’s co-studio heads Tom Rothman and Jim Gianopulos said, “Tom’s long commitment to the studio is rare in this industry. We are extremely grateful to him for his dedication and loyalty. . . . All of us at Fox will miss Tom, but we are happy for him and wish him well.”

Sherak’s departure follows the resignation of former film unit Chairman Bill Mechanic, who was fired in June after several films, such as animated adventure “Titan A.E.,” flopped at U.S. box offices.

In late July, Fox named Gianopulos and Rothman joint chairmen of Fox Filmed Entertainment, part of the Fox Entertainment Group, which is controlled by Rupert Murdoch’s News Corp.

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Reuters contributed to this report.