Disney Movies Leader Steps Down in Major Shake-Up
Disney is making big moves in its live-action film division, with CEO Bob Iger leading the charge to steer the entertainment behemoth back to success.
In a significant shakeup, Sean Bailey, who has served as president of motion picture production for 15 years, is stepping down from his role. David Greenbaum, previously heading Disney's Searchlight Pictures, will take the reins.
This decision comes on the heels of disappointing box office performances, such as "Haunted Mansion" and "Jungle Cruise." Despite Bailey's successful tenure overseeing hits like "Alice in Wonderland" and "The Lion King," recent projects like "The Little Mermaid" fell short of expectations.
However, Bailey isn't leaving Disney entirely; he'll remain involved as a producer for upcoming projects like "Tron: Ares."
Alan Bergman, Disney Entertainment Co-Chairman, praised Bailey's contributions, highlighting the timeless impact of his work.
Taking over is David Greenbaum, who brings his success from projects like "Poor Things," nominated for several Oscars this year. Greenbaum will assume the newly-created role of president at Disney Live Action and 20th Century Studios.
Disney's restructuring comes amid pressure from activist investor Nelson Peltz, pushing for improvements in streaming profitability and box office performance. Despite Peltz's calls for a board seat, Disney has resisted, focusing instead on CEO Bob Iger's strategy for substantial growth.
Part of this strategy involves exclusive content on Disney+, such as Taylor Swift's Eras Tour concert movie, and a $1.5 billion investment in Epic Games, creator of the popular game Fortnite. Additionally, Disney has entered into a joint venture with Fox and Warner Bros. Discovery to launch a sports streaming platform, capitalizing on their extensive sports rights.
Bob Iger, who retired in 2021 but returned to Disney within a year, is spearheading these efforts to rejuvenate the company's prospects.
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