Disney: Bob Iger Begins Major Shake-Up After Returning to Firm
Less than 24 hours after his shock return as Disney’s chief executive, Bob Iger says he is planning a major shake-up of the business.
As reported by the BBC, one of his first moves has resulted in the exit of the head of company’s Media and Entertainment Distribution division, Kareem Daniel.
Mr Daniel was a close ally of the media giant’s former boss Bob Chapek.
On Sunday, Disney announced Mr Iger’s return as chief executive less than a year after he retired from the firm.
In a message to employees, seen by the BBC, Mr Iger said “It is my intention to restructure things in a way that honours and respects creativity as the heart and soul of who we are.”
“I fundamentally believe storytelling is what fuels this company, and it belongs at the centre of how we organise our business,” he said in the email.
He said he had tasked a group of executives with designing “a new structure that puts more decision-making back in the hands of our creative teams and rationalises costs”.
The move marks a speedy undoing of a major initiative put in place by former chief executive Bob Chapek.
During his first year as chief executive Mr Chapek formed Disney’s Media and Entertainment Distribution division.
It brought together the company’s film and television sales and distribution operations, with Mr Daniel in charge of it.
Mr Iger, who headed Disney for 15 years, was brought back by the company’s board to steer it through turbulent times as its share price has plummeted and Disney+ continues to run at a loss.
