McGlashan’s departure comes after he was arrested in connection in a nationwide college admissions cheating case. Tpg placed McGlashan on administrative leave on Tuesday.
McGlashan was one of 46 people arrested, including former “Desperate Housewives” star Felicity Huffman and “Full House” actress Lori Loughlin, as part of an on-going FBI investigation code-named “Operation Varsity Blues.”
On Wednesday, Stx CEO Robert Simmonds sent an email to staff announcing that McGlashan would step down from the company’s board of directors. He and Simmonds co-founded the entertainment company in 2014.
Also Read: CAA Owner Tpg Puts Co-Founder Bill McGlashan on Leave After Arrest in College Admissions Scandal
According to prosecutors, McGlashan spent $250,000 on illegal schemes to get his son admitted to college — including