The ability to make a graceful exit is part of a film star's repertoire--but it's rare among Hollywood executives, who tend to get fired with a blunt heave-ho, usually preceded by weeks of whispering. Last week, however, Arnold Rifkin managed it. Rifkin was the co-head of the William Morris Agency, and one of the industry's more colorful individuals. He's still colorful. But Jim Wiatt, the longtime co-chief of rival International Creative Management, is becoming president and co-chief executive of William Morris. Among the clients joining him there are Eddie Murphy, Sylvester Stallone and Tim Allen.
The 52-year-old Rifkin is getting the...
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