The Weinstein Company's future is more than bleak, Jeffrey Sonnenfeld, a professor at the Yale School of Management, told CNBC on Tuesday.
Over the years, company co-founder Harvey Weinstein has reached at least eight legal settlements with women over alleged harassment, The New York Times reported Thursday. On Monday, the paper reported that Gwyneth Paltrow and Angelina Jolie are among those who say the Hollywood mogul harassed them.
Although the co-chairman was fired on Sunday from his position, Sonnenfeld still sees the company as doomed to failure.
"I can't see that this business is recoverable. Plenty of executives have missteps — there are many companies that hit a pothole — and there's no reason to give up for most of them. In this case, this is irretrievable," Sonnenfeld, a senior associate dean for leadership studies, told "Closing Bell."