James A. Parsons, who left his job as Bank of America's man in charge of loans to the entertainment industry and joined De Laurentiis Entertainment Group last year, has departed the troubled independent film producer.
Parsons has resigned as executive vice president and chief financial officer "to explore other opportunities in the industry," the company announced late Wednesday.
Public records show Parsons had a base salary of $250,000 a year at the film company. He joined the firm in June, 1986, when the company founded by Dino De Laurentiis was riding the crest of its first public stock offering.
Since then, the firm's major films have been unsuccessful at the U.S. box office and losses piled up. Its debt--much of it to Bank of America--was recently more than $40 million.