Since Bob Chapek was ousted from The Walt Disney Company and Iger took over the reins as CEO once again, we’ve seen further leadership changes follow.
It’s not all that surprising that after such a major shakeup, the avalanche would only continue to roll with more executives leaving and others taking their places. And now, with the first company earnings call since Iger’s return just a short time away, more executive leadership changes could be on the way at Disney.
When Bob Iger first returned as Disney’s CEO, he signed on for two years “with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion his term.”
Later, Disney filed a report with the SEC that stated, “As contemplated by the leadership change announcement, we anticipate that within the coming months, Mr. Iger will initiate organizational and operating changes within the Company to address the Board’s goals. While the plans are in early stages, changes in our structure and operations, including within DMED (and including possibly our distribution approach and the businesses/distribution platforms selected for the initial distribution of content), can be expected. The restructuring and change in business strategy, once determined, could result in impairment charges.”
We’ve already seen executive changes at Disney since Iger’s return. This included Kareem Daniel, who was considered “a top lieutenant for former Disney CEO Bob Chapek.” Daniel had been appointed by Chapek to head the newly organized media and entertainment distribution group in 2020. Another executive who was closely linked to Bob Chapek is Arthur Bochner, who left Disney on November 26th. Bochner was Chapek’s vice president of strategic communications and lead speechwriter.
Disney also recently named Mark Parker as the new Chairman of the Board, though there is currently a proxy battle going on for that seat. Senior vice president of corporate communications for Disney General Entertainment (DGE), Charissa Gilmore, has also left the company.
Basically, The Walt Disney Company is going to go through further shakeups. “Organizational and operating changes” means departments could change or be eliminated altogether, and other personnel updates could follow.
According to Deadline, that’s exactly the case. Speculation is growing that a new organizational chart will be unveiled on Disney’s next quarterly earnings report on February 8th. This could “potentially include some sort of consolidation within the company’s marketing operations as well as at Disney Television Studios.”
But, questions still remain about the future of DMED, along with what executives will remain at the company or in what capacity. The fate of Debra O’Connell, president of Networks for Disney Media and Entertainment Distribution, and head of business operations Chuck Saftler, remains up in the air.
According to reports, “everything seems to be on the table” when it comes to consolidating Disney Television Studios (which includes 20th Television, ABC Signature, 20th Animation and Walt Disney Television Alternative.) This could mean 20th TV and ABC Signature might potentially be difficult based on “two very different” cultures.
Additionally, sources don’t expect Disney’s film studio to be part of any potential cuts, though Disney will have to compete with the “ongoing decline of linear television” and high streaming costs.
As it stands right now, the main concern is how DMED reimburses the production costs for a series. After receiving a certain series or program form a production company, DMED then reimburses the production for the cost of the program “via an inter-company transaction.” Essentially, it all comes down to accounting.
Whether or not these predictions play our or we see any more changes in Disney leadership remains to be seen. The company’s quarterly earnings report is scheduled to come out on February 8th, which will be when the earnings call takes place. We’ll be listening in to the call and bringing you the most important news and updates.
If you want to read more about the recent changes in the company, check out our posts below:
- Bob Iger Is Back at Disney. Here’s What Can Change (and What Won’t).
- Why Disney Replaced Bob Chapek With Bob Iger
- Celebrities React to Disney’s Decision To Bring Bob Iger Back as CEO
- Bob Iger Announces Kareem Daniel, a Lieutenant of Bob Chapek, Is Leaving Disney
- Disney CEO Bob Iger Salary REVEALED
- Bob Chapek Did “Irreparable Damage to His Ability to Lead,” Disney Board of Directors Reportedly Determined
Stay tuned to DFB for more Disney news.
Disney Announces Organizational Changes Are On the Way
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