Disney media sales boss to quit Iger reshuffle

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A day after returning to the company, Walt Disney Co Chief Executive Bob Iger decided to undo a corporate structure put in place by his hand-picked successor.

In an email to employees on Monday, seen by Reuters, Iger said he would begin making operational changes at Disney, including a restructuring that puts decisions back in the hands of the company’s creative leaders.

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Iger said the restructuring will result in changes to Disney Media & Entertainment Distribution, a unit former CEO Bob Chapek formed in October 2020 to centralize all film and television sales and distribution. The unit’s president, Chapek’s longtime lieutenant Kareem Daniel, will leave the company.

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“I fundamentally believe that storytelling is what fuels this business,” he said in the email. « And it belongs at the center of how we organize our business. »

Iger asked Disney’s President of General Entertainment Content Dana Walden, President of Disney Studios Alan Bergman, ESPN and President of Sports Content James Pitaro and Chief Financial Officer Christine McCarthy to propose a new organizational structure built around the corporate creative teams.

Bank of America analyst Jessica Reif Ehrlich said Iger’s breakthrough action resembled his management approach during his first stint as Disney CEO.

During this time, he quickly calmed tensions with Pixar Animation Studio General Manager Steve Jobs.

« I think he’s had two years to think about what he needs to do, » Ehrlich said. « We all know he wasn’t happy with Bob Chapek’s performance. »

(Reporting by Dawn Chmielewski in Los Angeles; Editing by Mark Porter and Sam Holmes)