Los Angeles, March 19 (IANS) As an investigation into potential misconduct continues, WarnerMedia said that Warner Bros chairman and CEO Kevin Tsujihara is exiting the company.

"It is in the best interest of WarnerMedia, Warner Bros., our employees and our partners for Kevin to step down as Chairman and CEO of Warner Bros.," WarnerMedia CEO John Stankey said in a statement on Monday, reports deadline.com.

"Kevin has contributed greatly to the studio's success over the past 25 years and for that we thank him. Kevin acknowledges that his mistakes are inconsistent with the company's leadership expectations and could impact the company's ability to execute going forward."

WarnerMedia continues to work with a third-party law firm to complete its investigation, with Tsujihara's cooperation, in the wake of texts that were dropped in the trades revolving around the executive's alleged involvement in having British actress Charlotte Kirk cast in Warners movies "Ocean's 8" and "How to Be Single". 

WarnerMedia has yet to name a successor to Tsujihara.