Disney’s chairman, Daniel, to exit in planned restructuring
2022.11.21 18:37
© Reuters. FILE PHOTO: Chairperson of Disney Media and Entertainment Distribution Kareem Daniel attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 6, 2022. REUTERS/Brendan McDermid
(Reuters) -One day after returning to the company, Walt Disney (NYSE:) Co Chief Executive Bob Iger moved 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 that as a result of the restructuring, Chairman Kareem Daniel will leave the company.
Iger said the restructuring would result in a reorganization of Disney Media & Entertainment Distribution, a unit former CEO Bob Chapek formed to handle all film and television sales and distribution. Iger said the change would put decision-making back into the hands of creative executives and asked a group of senior executives to reorganize the company.
“I fundamentally believe storytelling is what fuels this company,” he said in the email. “And it belongs at the center of how we organize our business.”
