Sunday, April 18News For London

Weinstein’s company to be female-led?

Maria Contreras-Sweet [Photo: Instagram @mcontrerassweet]

The Weinstein Company has been bid on by a woman looking to turn it into a female-led corporation. Maria Contreras-Sweet, a former aide to Obama, has submitted a $275-million bid to take over the infamous company.

The Weinstein Company was suspected to shut down or reach bankruptcy after its former leader, Harvey Weinstein, was exposed for his sexual abuse history, and was removed from the company.

Last month, dozens of women began coming forward about the sexual misconduct they experienced when working with Weinstein, which raised the issue of sexual misconduct in the workplace as a whole.

According to her letter obtained by Deadline, Contreras-Sweet was “profoundly affected by the recent revelations” and felt that “reorganizing the Company as a woman-led venture will be an inspiration to the industry, and a new model for how an entertainment company can be both financially successful and treat all its employees with dignity and respect.”

If the bid is successful, Contreras-Sweet will become executive chairman of the company. The aforementioned letter detailed her intention to create a female-majority board, as well as change the company’s name. She also aims to put a  mitigation process in place for victims of sexual misconduct, to “ensure that victims are treated fairly.” Weinstein’s brother, who is currently co-chairman, would also be removed from the company if Contreras-Sweet takes over.

[Featured image: Flickr user GES+ Investor Roundtable]