Lee Gabler, co-chairman and partner at Creative Artists Agency, is leaving the firm and could announce his departure as early as today, people familiar with the situation said.
The people spoke on condition of anonymity because the agency has not made a formal announcement. Gabler was traveling in Brazil and unavailable for comment.
Gabler has been increasingly critical of the agency's growing size and large expenditures.
Arguably the most powerful talent agency in the business, CAA represents such clients as Nicole Kidman, Angelina Jolie, Renee Zellweger, Julia Roberts, Tom Cruise and Tom Hanks.
Gabler, who ran the television division for 15 years, stepped back from his day-to-day responsibilities in 2005.
He was instrumental in capturing corporate clients such as Coca-Cola Co., selling "American Idol" to Fox and orchestrating David Letterman's move from NBC to CBS.