Legendary Hollywood film studio Metro-Goldwyn-Mayer lost its second-highest ranking executive yesterday, as Rick Sands stepped down as COO.

Sands’ departure, first reported by The Post, was widely expected in Hollywood circles after his name was conspicuously absent from an announcement last month that Mary Parent joined MGM as head of theatrical production.

Sources close to Sands stressed, however, that his departure had nothing to do with Parent’s arrival.