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David Glasser to Remain at Weinstein Company Through 2018

COO and president reverses resignation he handed to the board in July

David Glasser will remain in his post as COO and President of The Weinstein Company, backtracking a resignation he handed down in July, the studio announced Wednesday.

The new deal keeps him in his current role through 2018. Glasser, who joined Harvey and Bob Weinstein at TWC in 2008, shocked many in the industry when he tendered his resignation.

“I am thrilled to continue to make TWC my home,” Glasser said in a statement. “Bob and Harvey as well as the employees of The Weinstein Company have been a big part of mine and my wife Michele’s lives. After a long weekend in conversations with everyone, we were able to partner on a plan that will keep me at the studio and continue to grow our business for years to come.”

An apparent breakdown in contract negotiations led to the split, which was clearly remedied after further exploration.

“I couldn’t imagine continuing this journey without David. He knows the company has huge assets that if managed properly will generate long and powerful financial success”, said Harvey Weinstein. “This is starting to feel like Miramax 2.0 so I figure we should join the original Miramax and create the world’s most famous active movie company. With David back that could be a reality.”

TWC films have won two Best Picture Oscars during Glasser’s tenure, taking top honors with “The King’s Speech” in 2010 and “The Artist” in 2011. The Academy nominated David O’Russell’s 2012 film “Silver Linings Playbook” and Morten Tyldum’s 2014 “The Imitation Game” for Best Picture as well.

While Glasser explored his options at other Hollywood companies, TheWrap exclusively reported TWC was rumored to be considering Tucker Tooley — current president of bankrupt Relativity Media — as his replacement.

TWC’s forthcoming slate includes the Cannes darling “Carol,” Bradley Cooper‘s chef movie “Burnt” and Quentin Tarantino‘s anticipated Christmas release ‘The Hateful Eight.”