Iger announces first big moves in new tenure as Disney CEO: Restructuring and departure of Chapek right hand Kareem Daniel

by | Nov 21, 2022 | Business

Bob Iger attends the World Premiere of Walt Disney Studios Motion Pictures ‘Avengers: Endgame’ at Los Angeles Convention Center on April 22, 2019.Jeff Kravitz | FilmMagic, Inc | Getty ImagesBob Iger, less than 24 hours after returning to the helm of Disney, told employees Monday that the company would be undergoing a restructuring in coming weeks.One of the first steps, Iger announced, would be the departure of Kareem Daniel, the company’s head of media and entertainment, and right hand to now-departed CEO Bob Chapek.Iger announced Daniel’s departure in a memo to employees of the division, along with a “new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs.””This will necessitate a reorganization of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company,” Iger said in the memo, which was obtained by CNBC.Iger said top Disney lieutenants, including Dana Walden, head of general entertainment, Alan Bergman, leader of Disney content studios, ESPN’s James Pitaro and CFO Christine McCarthy would work together on Disney’s new structure “that puts more decision-making back in the hands of our creative teams and rationalizes costs.”The decision marks the swift undoing of one of Chapek’s primary actions during his nearly three-year tenure as CEO. Chapek reorganized the company to establish the DMED division and¬†consolidate budgetary power for Disney’s content and distribution divisions under Daniel.¬†“Our goal is to have the new structure in place in the coming months. Without question, elements of DMED will remain, but I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses,” Iger said. “This is a moment of great change and opportunity for our company as we begin our second century.”Kareem DanielSource: Business WireDaniel has …

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