Entertainment One, the company behind Peppa Pig, insisted on Thursday that the creative head of its film and television studio would stay at the group, following a report that he was in talks to leave the role.
Shares in the London-listed film and television production company fell 17 per cent on Wednesday after Variety reported that Mark Gordon — a Hollywood veteran who has produced blockbusters including Saving Private Ryan and Steve Jobs — was being pushed out of his role after disagreements with senior managers.
On Thursday Entertainment One — best known for producing the hit children’s show Peppa Pig — put out a statement insisting Mr Gordon, who holds the title of president and chief content officer, film and television, would remain with the company. It did not say whether he would retain his current role or responsibilities, however.
Shares recovered most of their losses to trade up 14 per cent by mid-morning.
“In response to recent press speculation, Entertainment One can confirm that Mark Gordon continues to be a part of the Entertainment One team both now and into the future,” the company said.
An Entertainment One spokesperson declined to expand on the statement or to provide details regarding in what capacity Mr Gordon would remain with Entertainment One.
Mr Gordon joined Entertainment One on a five-year deal in February 2018 after it completed a buyout of his LA-based production group, The Mark Gordon Company, which was behind the medical drama Grey’s Anatomy.
It had previously bought a majority stake in the company in 2015 in a bid to compete with major US studios.