Bob Iger told employees Monday that the company would be going through a restructuring in the coming weeks.
The departure of the company's head of media and entertainment and right hand to the CEO is one of the first steps.
A new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs was announced in a memo by Iger.
Disney Media & Entertainment Distribution will need to be reorganized. Iger said in the memo that Daniel would be leaving the company.
Disney has a new structure that puts more decision-making back in the hands of the creative team.
The decision marks the end of one of the main actions of the CEO. The DMED division was established to consolidate budgetary power for the Disney divisions.
We want to have the new structure in place by the end of the year. Iger said that elements of DMED will remain, but that they should be at the center of how we organize our businesses. As we start our second century, this is a moment of great change for our company.
Daniel was hired as an intern by Chapek when he was working to get his masters degree.
The two worked together when Daniel was head of the Imagineering program at Disney.
During his time at Disney, Daniel worked in several divisions. He was in charge of distribution strategy at Walt Disney Studios when it was acquired by Disney. He was part of the team that bought Lucasfilm.
In recent years, Star Wars andMarvel became key pieces to Disney's strategy.
Daniel, who was at Disney for more than a decade, rose to his latest perch as head of media and entertainment when Disney reorganized in 2020 and the former CEO quickly surrounded himself with parks staff.
All of Disney's streaming services, including Disney+, as well as domestic television networks and studios were overseen by Daniel.
On the day after Disney announced the executive shift, shares of Disney rose more than six percent.
You can read Iger's memo.
Dmed employees, I would like to send you a letter.
As we embark on the work that I mentioned to you in my email last night, I would like to start by thanking you all.
Organizational and operating changes will be implemented over the next few weeks. I want to restructure things in a way that respects creativity as the heart and soul of who we are. This is a time of enormous change and challenges in our industry and our work will focus on creating a more efficient and cost effective structure.
The design of a new structure that puts more decision-making back in the hands of our creative teams will necessitate a reorganization of Disney Media and Entertainment Distribution. I hope you will join me in thanking him for his many years of service to Disney as he leaves the company.
We want to have the new structure in place by the end of the year. Without question, elements of DMED will remain, but I firmly believe that telling stories is what fuels this company, and it belongs at the center of how we organize our businesses.
As we begin our second century, this is a time of great change and opportunity for our company, and I am so proud to be leading this team again. I am so grateful for the work you do each day and for your dedication to maintaining the level of excellence Disney has always been known for.
I know change can be difficult, but it is necessary and even stimulating, and so I want you to be patient as we develop a road map for this restructuring. There will be more information forthcoming. We will remain under our existing structure until a new structure is put in place. I would like to wish you all a wonderful Thanksgiving holiday and thank you for all you do.
There is a person named Bob.
Bob Chapek was the CEO of Disney for over two years. His tenure was incorrect.
All Rights Reserved © 2024
