has stepped down as president of Stx
. In a press release Stx said that Watts was leaving to “focus on new business opportunities.”
Watts’ departure has been rumored for months. However, Watts previously denied to Variety
that she was leaving.
In a statement, Watts thanks CEO Bob Simonds, as well as the heads of Hony
and Tpg Growth, two investors in the studio.
“Stx has been a life-changing experience for me, not only because of the company’s phenomenal growth and unique approach to global creativity, but because of the hundreds of spectacular people who make it such an extraordinary place to work,” Watts said in a statement.
Watts’ exit comes as Stx has struggled to gain a foothold in the industry. The studio launched with grand ambitions to compete directly against the major studios. Yet, its output has been spotty. The studio scored with “Bad Moms
” and its sequel “Bad Moms Christmas,” but has also