Bob Iger attends the World Premiere of Walt Disney Studios Movement Footage ‘Avengers: Endgame’ on the Los Angeles Conference Middle on April 22, 2019.
Jeff Kravitz | FilmMagic, Inc | Getty Pictures
Bob Iger, lower than 24 hours after his return to the top of disneyadvised workers on Monday that the corporate would endure a restructuring within the coming weeks.
One of many first steps, Iger stated, can be the departure of Kareem Daniel, the corporate’s head of media and leisure, and right-hand man to late CEO Bob Chapek.
Iger introduced Daniel’s departure in a memo to workers on Monday, together with a “new construction that places extra choices within the palms of our inventive groups and streamlines prices.”
“It will require a reorganization of Disney Media & Leisure Distribution. Consequently, Kareem Daniel will depart the corporate,” Iger stated within the memo, which was obtained by CNBC.
Iger stated Disney’s prime lieutenants, together with Dana Walden, head of normal leisure, Alan Bergman, head of Disney content material studios, ESPN’s James Pitaro and chief monetary officer Christine McCarthy would work collectively on Disney’s new construction “which places extra decision-making again into the palms of our inventive groups and streamlines prices.”
The transfer marks the swift reversal of considered one of Chapek’s key actions throughout his practically three-year tenure as CEO. Chapek reorganized the corporate to determine the DMED division and consolidate the fiscal energy of Disney’s content material and distribution divisions underneath Daniel.
“Our aim is to have the brand new construction in place within the coming months. Little doubt parts of DMED will stay, however I essentially imagine that storytelling is what drives this enterprise, and it belongs on the heart of how we manage our actions,” Iger stated. “It is a time of nice change and alternative for our firm as we enter our second century.”
Karim Daniel
Supply: BusinessWire
Daniel has shut ties to Chapek, who employed Daniel as an intern whereas he was working in direction of his MBA at Stanford.
The 2 had labored intently collectively when Chapek was head of the parks, experiences and client merchandise group, and Daniel was head of the Imagineering program, Disney’s theme park designers.
Daniel had labored in a number of Disney divisions throughout his tenure. He was vice chairman of distribution technique at Walt Disney Studios when Disney accomplished its acquisition to purchase Marvel Studios for roughly $4 billion in 2009. He was additionally a part of the workforce that purchased Lucasfilm in 2012 for $4 billion. 05 billion {dollars}.
Marvel and Star Wars would go on to turn into main items of Disney’s technique, particularly when it got here to streaming, in recent times.
Daniel, who had been at Disney for greater than a decade, reached his last perch as head of media and leisure, when Chapek revamped Disney in 2020 and the previous CEO rapidly surrounded himself with parks workers. and accelerated the corporate’s push in direction of streaming.
In his final function, Daniel oversaw all of Disney’s streaming companies, specifically Disney+, in addition to nationwide tv networks and studios.
Learn Iger’s memo:
Pricey DMED workers,
As we start the work of transformation that I advised you about in my e mail final evening, I wish to begin by providing my honest appreciation and gratitude to every of you.
Over the following few weeks, we’ll start to implement organizational and operational modifications inside the firm. I intend to restructure issues in a means that honors and respects creativity as the guts and soul of who we’re. As , it is a time of large change and problem in our business, and our work may even concentrate on making a extra environment friendly and worthwhile construction.
I’ve requested Dana Walden, Alan Bergman, Jimmy Pitaro and Christine McCarthy to work collectively on designing a brand new construction that places extra decision-making again into the palms of our inventive groups and streamlines prices, and that can require a reorganization of Disney Media & Leisure Distribution. Consequently, Kareem Daniel will likely be leaving the corporate, and I hope you’ll all be part of me in thanking him for his a few years of service to Disney.
Our aim is to place the brand new construction in place within the coming months. Undoubtedly, parts of DMED will stay, however I essentially imagine that storytelling is what drives this enterprise, and it belongs central to how we manage our enterprise.
It is a time of nice change and alternative for our firm as we enter our second century, and I’m very proud to guide this workforce as soon as once more. I can not say it sufficient: I’m extraordinarily grateful for the fantastic work you do daily and in your dedication to sustaining the extent of excellence for which Disney has at all times been recognized.
I do know change might be destabilizing, however it is usually needed and even energizing, so I ask in your endurance as we develop a roadmap for this restructuring. Extra data will likely be shared over the approaching weeks. Till a brand new construction is put in place, we’ll proceed to function underneath our current construction. Within the meantime, I hope you all have a beautiful Thanksgiving vacation and thanks once more for all you do.
Bob
Correction: This story has been corrected to mirror that Bob Chapek was CEO of Disney for nearly three years. An earlier model misrepresented its phrases of reference.
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