Michael Ovitz Booted From IMG Board (Exclusive)

Ovitz was asked to resign after maneuvering to take over the company

Michael Ovitz has left the board of the sports talent agency IMG, TheWrap has learned.

Ovitz, the advisory board member and Hollywood executive, was asked to resign this week after angering CEO Ted Forstmann, who is battling brain cancer, and COO Mike Dolan, by maneuvering to take control of the company.

According to an individual with knowledge of the company, Ovitz was asked to resign by Dolan on Monday. It was not clear whether Ovitz resigned voluntarily or whether Forstmann was required to legally dismiss him.

A spokesman for IMG, the world’s largest sports talent agency, did not respond to requests for an update of the status of the board. Ovitz also did not respond to an email requesting comment.

Herb Siegel, who had been allied with Ovitz, had also been asked to resign, but Siegel was believed to be prepared to argue that he had been coopted by Ovitz.

Forstmann has asked board members not to speak about the matter.

But much of Hollywood was buzzing with gossip about the boardroom battle, which burst into the open last Friday after Ovitz apparently called other board members to discuss a new management structure in which Dolan would report to an executive committee.

According to one insider, Ovitz had suggested to other directors hiring a lawyer to represent the board’s interests. When Dolan learned of this, he decided to take action.