Kevin Spacey being replaced by Christopher Plummer in upcoming film

The film was recently pulled from the American Film Institute film festival.

News of the replacement comes on the heels of the film being pulled from the American Film Institute (AFI) film festival, after multiple sexual misconduct allegations have emerged against Spacey.

TriStar Pictures, a division of Sony, said previously that the film was being withdrawn from the AFI festival "out of respect for those impacted" by the actor.

"'All the Money in the World' is a superb film and more than worthy of its place of honor in the AFI Fest. But given the current allegations surrounding one of its actors and out of respect for those impacted, it would be inappropriate to celebrate at a gala at this difficult time," Tristar Pictures said in a statement.

Spacey, 58, was accused Wednesday by Heather Unruh, a former TV news anchor, of sexually assaulting her son when he was 18. A rep for Spacey did not respond immediately to ABC News' request for comment on Wednesday.

Spacey issued an apology in the wake of Rapp's accusations, saying, "I honestly do not remember the encounter, it would have been over 30 years ago. But if I did behave then as he describes, I owe him the sincerest apology for what would have been deeply inappropriate drunken behavior."

ABC News' Michael Del Moro, Lesley Messer and Luchina Fisher contributed to this report