EXCLUSIVE
Twentieth Century Fox has been shedding production executives at a rapid clip – five in the past two years, with another two about to jump ship, TheWrap has learned.
>>Vice President of Production Steven Puri (right) is poised to leave in December when his contract is up, according to two knowledgeable individuals.
>> Vice President of Production Drew Crevello (below) is on sabbatical, but isn't expected to return anytime soon, if at all, according to knowledgeable individuals.
>> John Fox, another vice president of production, left last April to run production at Davis Entertainment, a production company with a deal at the studio.
All told, Fox’s lean production department reporting to President of Production Emma Watts will soon have lost seven people in less than two years, many of whom have been replaced.
Also read: Play It Again, Fox: Stuck on Sequels, Remakes & Reboots
What’s behind the executive flight?
TheWrap spoke to multiple former executives who said that with fewer films being made, an over-emphasis on sequels and reboots and relentless penny-pinching, Fox has become a less appealing workplace.
The turnover coincides with Watts' elevation to her current role in 2009. But while Watts is known as a tough boss, former executives say that the problems have more to do with studio culture than the person running the division.
“The reward just doesn’t justify the sacrifice,” said one disgruntled former executive. “It’s the worst-paying studio in Hollywood, but it’s not the money. There’s no acknowledgement of the really hard work that goes into making a movie."
Also read: Fox, James Cameron Announce 'Avatar 2,' 'Avatar 3'
Fox is well-known as one of the most cost-conscious studios in Hollywood, a quality that longtime co-chairmen Jim Gianopulos and Tom Rothman generally wear as a badge of honor. But former executives said that all the penny-pinching makes their jobs drawing top talent and projects to the studio that much harder.
Puri declined to comment. Crevello and Fox did not respond to requests for comment.
A Fox spokesman declined to comment for this story. But one executive denied that Fox is a place where it is difficult to advance -- noting the appointment of Watts (right), who climbed the ranks -- and said that the studio's upcoming slate bets heavily on original material from the likes of Ang Lee and Curtis Hanson.
Fox Searchlight continues to make and acquire edgy fare such as this fall's sex-addiction drama, "Shame." And similar criticism is not associated with the Fox 2000 division.
Still, all this Fox turnover comes at a time when the studio is mired in last place among the six major studios at the domestic box office. Despite hits such as “Rise of the Planet of the Apes” and “X-Men: First Class,” Fox has earned $799.6
