Reese Witherspoon splits from producing partner Bruna Papandrea

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Reese Witherspoon and Bruna Papandrea, who co-founded the production company Pacific Standard, are going their separate ways. Witherspoon will retain control of Pacific Standard while Papandrea will move on to other ventures.

The duo have been running Pacific Standard since 2012, producing Gone Girl, Wild and Hot Pursuit through the company. Gone Girl was a breakout hit, collecting $369.3 million worldwide, while Wild earned Witherspoon a best actress Oscar nomination and Laura Dern a best supporting actress nom. Hot Pursuit, however, stumbled at the box office, earning just $51.7 million.

Pacific Standard's latest project, HBO series Big Little Lies, is slated to debut in 2017. It stars Witherspoon, Nicole Kidman and Shailene Woodley.

PHOTOS: Reese Witherspoon in 'Wild'

41 PHOTOS
Pacific Crest Trail - hiking - Wild movie - Reese Witherspoon
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Pacific Crest Trail - hiking - Wild movie - Reese Witherspoon
BEVERLY HILLS, CA - JANUARY 15: An image is displayed on a big screen onstage of Best Actress nominee Reese Witherspoon for her role in the film 'Wild' at the 87th Academy Awards Nominations Announcement at the AMPAS Samuel Goldwyn Theater on January 15, 2015 in Beverly Hills, California. (Photo by Kevin Winter/Getty Images)
PORTLAND, OR - DECEMBER 08: Jean-Marc Vallee, Reese Witherspoon and Laura Dern arrive at the premiere of 'Wild' at Cinema 21 on December 8, 2014 in Portland, Oregon. (Photo by Jackie Butler/Getty Images)
PORTLAND, OR - DECEMBER 08: Reese Witherspoon arrives at the premiere of 'Wild' at Cinema 21 on December 8, 2014 in Portland, Oregon. (Photo by Jackie Butler/Getty Images)
NEW YORK, NY - DECEMBER 03: A general view of the atmosphere at Apple Store Soho Presents : Meet the Filmmakers : Reese Witherspoon, Laura Dern and Cheryl Strayed, 'Wild' at Apple Store Soho on December 3, 2014 in New York City. (Photo by Brent N. Clarke/WireImage)
NEW YORK, NY - DECEMBER 03:(L - R) Reese Witherspoon, Laura Dern and Thomas Sadoski attend Official Academy members screening of 'Wild' on December 3, 2014 in New York City. (Photo by Bennett Raglin/Getty Images for Academy of Motion Picture Arts and Sciences)
NEW YORK, NY - DECEMBER 03: Actress Reese Witherspoon attends Official Academy members screening of 'Wild' on December 3, 2014 in New York City. (Photo by Bennett Raglin/Getty Images for Academy of Motion Picture Arts and Sciences)
GOOD MORNING AMERICA - Oscar winner Reese Witherspoon talks about her new film, 'Wild,' on GOOD MORNING AMERICA, 12/3/14, airing on the ABC Television Network. (Photo by Ida Mae Astute/ABC via Getty Images)
FILE - In this Wednesday, Nov. 19, 2014 file photo, actress Reese Witherspoon arrives at the LA Premiere of "WILD" in Beverly Hills, Calif. The movie starring Witherspoon opens in U.S. theaters on Dec. 5, 2014. (Photo by Richard Shotwell/Invision/AP, File)
FILE - In this Wednesday, Nov. 19, 2014 file photo, Reese Witherspoon arrives at the LA Premiere of "WILD" in Beverly Hills, Calif. The movie opens in U.S. theaters on Dec. 5, 2014. (Photo by Richard Shotwell/Invision/AP, File)
FILE--In this Monday, Oct. 13, 2014 file photo, U.S actress Reese Witherspoon and U.S author Cheryl Strayed pose for photographers at the premiere of "Wild" at a central London cinema, during the BFI London Film Festival, in London. The movie opens in the U.S. on Dec. 5, 2014. (Photo by Jonathan Short/Invision/AP, File)
Reese Witherspoon attends the Portland Premiere of Fox Searchlight's "Wild" at Cinema 21 on Monday, December 8, 2014 in Portland, Oregon. (Photo by Todd Williamson/Invision for Fox Searchlight/AP Images)
Reese Witherspoon attends the Los Angeles Premiere of Fox Searchlight's 'Wild' at AMPAS Samuel Goldwyn Theater on Wednesday, November 19, 2014 in Los Angeles. (Photo by Todd WilliamsonInvision for Fox Searchlight/AP)
From left, Reese Witherspoon, Cheryl Strayed and Laura Dern arrive at the LA Premiere Of "WILD" on Wednesday, Nov 19, 2014, in Beverly Hills, Calif (Photo by Richard Shotwell/Invision/AP)
U.S actress Reese Witherspoon poses for photographers upon arrival at the premiere of Wild at a central London cinema, during the BFI London Film Festival, London, Monday, Oct. 13, 2014. (Photo by Jonathan Short/Invision/AP)
U.S actress Reese Witherspoon and U.S author Cheryl Strayed pose for photographers at the premiere of Wild at a central London cinema, during the BFI London Film Festival, London, Monday, Oct. 13, 2014. (Photo by Jonathan Short/Invision/AP)
U.S actress Reese Witherspoon, right, and U.S author Cheryl Strayed pose for photographers upon arrival for the premiere of Wild at a central London cinema, during the BFI London Film Festival, London, Monday, Oct. 13, 2014. (Photo by Jonathan Short/Invision/AP)
Actress Reese Witherspoon poses for photographers at the photo call for the film Wild, during the BFI London Film Festival in London, Monday, Oct. 13, 2014. The film is based upon author Cheryl Strayed's journey, hiking more than a thousand miles of the Pacific Crest Trail alone, as a way to heal herself, following her divorce and the death of her mother. (Photo by Joel Ryan/Invision/AP)
Reese Witherspoon attends the premiere of Fox Serachlight's "Wild" during the 2014 Toronto International Film Festival on Monday September 8, 2014 in Toronto, Canada. (Photo by Todd Williamson/Invision for Fox Searchlight/AP Images)
Reese Witherspoon attends the pre party for the premiere of Fox Serachlight's "Wild" during the 2014 Toronto International Film Festival at the Shangri La Hotel on Monday September 8, 2014 in Toronto, Canada. (Photo by Todd Williamson/Invision for Fox Searchlight/AP Images)
Cheryl Strayed, guest and Reese Witherspoon attend the pre party for the premiere of Fox Serachlight's "Wild" during the 2014 Toronto International Film Festival at the Shangri La Hotel on Monday September 8, 2014 in Toronto, Canada. (Photo by Todd Williamson/Invision for Fox Searchlight/AP Images)
Actress Reese Witherspoon attends the "Wild" premiere at Roy Thomson Hall during the Toronto International Film Festival on Monday, Sept. 8, 2014, in Toronto. (Photo by Evan Agostini/Invision/AP)
Reese Witherspoon, left, and Laura Dern attend the press conference for "Wild" on day 5 of the Toronto International Film Festival at the TIFF Bell Lightbox on Monday, Sept. 8, 2014, in Toronto. (Photo by Chris Pizzello/Invision/AP)
BEVERLY HILLS, CA - NOVEMBER 19: Actress Reese Witherspoon attends the premiere of Fox Searchlight's 'Wild' at AMPAS Samuel Goldwyn Theater on November 19, 2014 in Beverly Hills, California. (Photo by Frederick M. Brown/Getty Images)
BEVERLY HILLS, CA - NOVEMBER 19: Actress Reese Witherspoon arrives at the Los Angeles premiere of 'Wild' at AMPAS Samuel Goldwyn Theater on November 19, 2014 in Beverly Hills, California. (Photo by Axelle/Bauer-Griffin/FilmMagic)
BEVERLY HILLS, CA - NOVEMBER 19: Actresses Laura Dern and Reese Witherspoon arrive at the Premiere of Fox Searchlight's 'Wild' at AMPAS Samuel Goldwyn Theater on November 19, 2014 in Beverly Hills, California. (Photo by Frazer Harrison/Getty Images)
BEVERLY HILLS, CA - NOVEMBER 19: Actress Laura Dern, author Cheryl Strayed and actress Reese Witherspoon arrive at the Los Angeles premiere of 'Wild' at AMPAS Samuel Goldwyn Theater on November 19, 2014 in Beverly Hills, California. (Photo by Gregg DeGuire/WireImage)
Sign for the Pacific Crest trail with Mount Adams in background
PCT Sign
OREGON - Sign marking the Pacific Crest National Scenic Trail at Timberline winter sports resort on Mount Hood.
Pacific Crest Trail, Goat Rocks Wilderness Area, Washington State, USA, Pacific NW, Cascade Mountains, Mt Rainier, USPS Stamp
A man hiking the Pacific Crest Trail with a lake in the background.
USA, WA, Gifford Pinchot NF. Pacific Crest Trail sign
Trail sign near Lake Hughes, California.
Nate Olive of Atlanta, Ga., right, and Sarah Janes of Slidell, La., hike Tuesday, July 13, 2004, along the beach south of Crescent City, Calif. If they reach Baja California in about two months, they will be the first to continuously hike the entire 1,800 miles of the West Coast Trail. Veterans of the Appalachian and Pacific Crest trails, they hope to increase awareness about long-distance hiking in general and the West Coast Trail in particular. (AP Photo/Jeff Barnard)
View of Three Figer Jack from the Pacific Crest Trail in the Oregon Cascade mountains
USA, WA, Gifford Pinchot NF. Pacific Crest Trail sign
Scott Williamson talks to friends and supporters while celebrating the completion of his second roundtrip hike of the Pacific Crest Trail Tuesday, Nov. 28, 2006 in Campo, Calif. (AP Photo/Chris Park)
SIERRA NEVADA MOUNTAINS SEEN FROM PACIFIC CREST TRAIL. NORDEN, CALIFORNIA. USA. H
California, United States, North America
Pacific Crest trail Bridge at Dry Creek.
Coyote Ridge, along the Pacific Crest Trail, Goat Rocks Wilderness, Washington
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"I'm very proud of the projects that Bruna and I have produced together," Witherspoon said Thursday in a statement. "Bruna is a hard-working, extremely talented producer. I'm happy to further collaborate with her on the strong slate of Pacific Standard properties. "

Witherspoon and Papandrea have been acquiring a slew of material, mainly books, over the past couple of years. They will continue to produce the projects they have in development together, including the ABC series Broken starring Anna Paquin, an adaptation of Luckiest Girl Alive with Lionsgate and Barbie and Ruth, the story of the woman who created Barbie.

Witherspoon continues to act while producing, most recently doing voice work for the upcoming animated film Sing and starring in Big Little Lies. She also launched the fashion line Draper James. Papandrea, originally from Australia, previously produced Warm Bodies, Smart People, Milk and All Good Things before starting Pacific Standard.

Read more: Reese Witherspoon on Her Production Company: "We Support New Female Voices in Film"

PHOTOS: Reese Witherspoon through the years

18 PHOTOS
Reese Witherspoon through the years
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Reese Witherspoon through the years
Reese Witherspoon arrives at the Hollywood Film Awards at the Beverly Hilton Hotel on Sunday, Nov. 1, 2015, in Beverly Hills, Calif. (Photo by Jordan Strauss/Invision/AP)
Actress Reese Witherspoon, pictured at the Four Seasons Hotel in Beverly Hills, Calif., June 30, 2001, stars in the comedy movie, "Legally Blonde," which opens nationwide July 13. (AP Photo/Chris Pizzello)
Reese Witherspoon accepts the award for outstanding performance by a female actor in a leading role for her work in "Walk the Line," at the 12th Annual Screen Actors Guild Awards on Sunday, Jan. 29, 2006, in Los Angeles. (AP Photo/Mark J. Terrill)
Actress Reese Witherspoon arrives to the premiere of "Rendition" in Beverly Hills, Calif., Wednesday, Oct. 10, 2007. (AP Photo/Mark J. Terrill)
**FILE**Actress Reese Witherspoon and her husband Ryan Phillippe pose at the Academy Awards March 5, 2006, in Los Angeles. Phillippe wants joint custody of his children with the "Walk the Line" Oscar winner. Witherspoon filed for divorce on Nov. 8, citing "irreconcilable differences" as the reason for the split, and she asked for physical custody of the couple's two children. In a response filed Tuesday, MaY 15, 2007, Phillippe also cited irreconcilable differences but asked for joint legal custody and physical custody of the children as well as visitation granted "to both parties, equally allocated." (AP Photo/Kevork Djansezian)
Reese Witherspoon arrives at the premiere of the film "Four Christmases" in Los Angeles, Friday, Nov. 20, 2008. (AP Photo/Chris Pizzello)
U.S. actress Reese Witherspoon, right, and British-born Canadian actor Kiefer Sutherland, left, are seen during a photocall for the animation movie 'Monsters vs Aliens' in Berlin, Germany, Tuesday March 10, 2009. (AP Photo/Michael Sohn)
Reese Witherspoon, a cast member in "How Do You Know," poses at the premiere of the film in Los Angeles, Monday, Dec. 13, 2010. (AP Photo/Chris Pizzello)
Actors Robert Pattinson and Reese Witherspoon attend the premiere of "Water For Elephants" at The Ziegfeld Theater, in New York, on Sunday, April 17, 2011. (AP Photo/Peter Kramer)
Actress Reese Witherspoon arrives at the 18th Annual ELLE Women in Hollywood celebration in Beverly Hills, Calif., Monday, Oct. 17, 2011. The dinner celebrates womenâs achievements in film. (AP Photo/Matt Sayles)
Reese Witherspoon arrives at the 69th Annual Golden Globe Awards Sunday, Jan. 15, 2012, in Los Angeles. (AP Photo/Matt Sayles)
From left, actors Reese Witherspoon, Matthew McConaughey, and Tye Sheridan depart after a screening of Mud at the 65th international film festival, in Cannes, southern France, Saturday, May 26, 2012. (AP Photo/Francois Mori)
FILE - In this Friday, March 8, 2013 file photo, actress Reese Witherspoon and her husband, Jim Toth, watch the Toronto Raptors take on the Los Angeles Lakers in an NBA basketball game in Los Angeles. Police in Georgia say that Witherspoon has been arrested on a disorderly conduct charge after a traffic stop involving her husband in Atlanta. A Georgia State Police incident report says that Witherspoon was arrested early Friday, April 19, 2013, and charged with disorderly conduct. The report says a state trooper observed that a car driven by Toth was failing to stay in its lane. The officer writes that Witherspoon disobeyed multiple orders to stay in the car while he performed a field sobriety test on Toth. After she refused to return to the car, she was handcuffed and arrested. (AP Photo/Reed Saxon, File)
Actress Reese Witherspoon arrives at the ELLE 20th annual "Women in Hollywood" event at the Four Seasons Hotel on Monday, Oct. 21, 2013 in Los Angeles. (Photo by Jordan Strauss/Invision/AP)
Reese Witherspoon arrives at the Los Angeles premiere of "Inherent Vice" at the TCL Chinese Theatre on Wednesday, Dec. 10, 2014. (Photo by Jordan Strauss/Invision/AP)
Reese Witherspoon arrives at the 72nd annual Golden Globe Awards at the Beverly Hilton Hotel on Sunday, Jan. 11, 2015, in Beverly Hills, Calif. (Photo by John Shearer/Invision/AP)
Actress Reese Witherspoon, left, and entertainer Carol Burnett speak at the Wal-Mart shareholder meeting in Fayetteville, Ark., Friday, June 5, 2015. (AP Photo/Danny Johnston)
Reese Witherspoon accepts her award at the 29th American Cinematheque Awards at the Hyatt Regency Century Plaza on Friday, Oct. 30, 2015, in Los Angeles. (Photo by John Salangsang/Invision/AP)
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