Famed American film producer and studio executive Harvey Weinstein has released a lengthy apology amid sexual harassment allegations. The 65-year-old mogul is stepping down and taking leave from The Weinstein Company to “deal with the issue head on.”

“I appreciate the way I’ve behaved with colleagues in the past has caused a lot of pain, and I sincerely apologise for it,” he said in a recent statement. “Though I’m trying to do better, I know I have a long way to go.”

Weinstein has been accused of many workplace misdemeanors dating back decades to which he attributes to different times and a lack of boundaries in place to protect against such lude behaviour.

“I came of age in the ’60s and ’70s, when all the rules about behaviour and workplaces were different. That was the culture then,” Weinstein said.

“I have since learned it’s not an excuse, in the office — or out of it. To anyone I realised some time ago that I needed to be a better person, and my interactions with the people I work with have changed.”

A bombshell report released Thursday by The New York Times detailed the aforementioned sexual harassment and abuse allegations involving famous actresses Ashley Judd and Rose McGowan as well as former female employees. As a young actress, Judd was reportedly invited to Weinstein’s hotel room for what she thought was a business meeting. According to the Times, Weinstein appeared in a bathrobe “and asked if he could give her a massage or she could watch him shower.” “‘How do I get out of the room as fast as possible without alienating Weinstein?’ Ms. Judd said she remembers thinking,” it recounts. The report goes on to detail a female employee named Emily Nestor who was made an offer: accept Weinstein’s sexual advances and he would boost her career. Another female employee was left crying and distraught when Weinstein “badgered her into giving him a massage while he was naked.”

While persistent muttering over recent years has pertained to the fact the company has actually been struggling to pay bills and the arrival of Netflix and Amazon has meant Weinstein can no longer outspend these players, these current claims against the executive will undoubtedly harm the business most. As Variety puts it, “ostracization will likely come from the creative community” and a blanket ban will incur over working with the tarnished name. In the interim, Weinstein is vehemently denying “many of the accusations” as “patently false”. He reportedly is preparing a lawsuit against the company.

More to come.