Disney: Backstage heats up with executive resignation

Peter Rice joined the company in 1989 and has been responsible for Academy Award nominated productions such as “Juno” and “Little Miss Sunshine”.

The morale among Disney employees is dire, according to The Hollywood Reporter, after Peter Rice, until this week president of Walt Disney Television, was fired in a seven-minute meeting by CEO Bob Chapek.

One of the entertainment industry’s most respected executives, Rice began his career at 20th Century Fox in 1989 and has been responsible for Academy Award-nominated productions such as “Juno”, “Little Miss Sunshine”, “Moulin Rouge” and “Slumdog Millionaire”. “(winner in 2009). He has been promoted to the company several times. He chaired the Fox Searchlight studio at the turn of the century and became CEO of the 21st Century Fox conglomerate on the eve of the sale to Disney.

Following the acquisition, Rice assumed the role of president of Walt Disney Television, responsible for all non-sporting programming for the company’s channels and platforms. Behind the scenes, he was even cited as the CEO of Disney, a job that ended with Chapek when Bob Iger decided to step down.

His great influence in the industry, among other things, would have been the reason for the dismissal, according to the American press – Chapek began to fear the shadow, after several negative incidents of his management at the head of the company.

Chapek has made a number of mistakes since taking the helm of Disney in 2020, including his public squabble with actress Scarlett Johansson over her rights to the movie “Black Widow,” which rocked her relationship with Marvel Studios. and the aftermath of his clumsy response to Florida’s “Don’t Say Gay” bill, which will cost the company billions in retaliation by the state’s conservative governor.

Rice’s head would have been a prize when he decided to speak out on the Florida controversy, taking a tougher stance against the law – which bans the teaching of gender issues in Florida elementary schools – than Chapek’s initial response. .

The two also clashed when Chapek decided to reorganize the company’s structure, creating an entertainment committee responsible for programming films and series and ending individual decisions about launching new content. It was a way to remove Rice from power, but the executive continued to affirm his will in all discussions.

Despite these quarrels, the layoff surprised the executive and other prominent Hollywood figures.

Rice will be replaced by Dana Walden, who came with him from Fox. Walden was Rice’s assistant in charge of Disney television programming and was described by Chapek as a “collaborative leader” in an introductory note to Disney employees.

However, the replacement was not perceived as a promotion and shook the market, causing Disney shares to plummet by 33% on the New York Stock Exchange. The atmosphere in the company offices was one of astonishment.

According to THR, several executives were shocked by the lack of ceremony with which Rice was fired. Chapek did not follow the Hollywood custom of treating its fired executives well by offering them independent production contracts. Amy Pascal has gone from Sony’s leadership at the helm of the “Spider-Man” franchise and many of the studio’s other successful productions, and Toby Emmerich has just left Warner with a similar deal.

The malaise caused a rare outburst from Disney President Susan Arnold, who said current CEO Chapek continues to have board support to stay in office. “The strength of the Walt Disney Company’s business as it emerges from the pandemic is a testament to Bob’s leadership and vision for the future of the company,” Arnold said in a statement Thursday. “In this important time of business growth and transformation, we are committed to keeping Disney on the path of success it has taken today, and Bob and his leadership team have the support and trust of the board.”

Communications like this are rare. But above all, despite what the text says, Chapek does not have enough confidence on the part of the board to be reconfirmed in office. His tenure expires in nine months, and instead of renewing him soon to express confidence in the face of the changes, the Disney board has only expressed support.

Source: Terra

Emily

Emily Jhon is a product and service reviewer at Gossipify, known for her honest evaluations and thorough analysis. With a background in marketing and consumer research, she offers valuable insights to readers. She has been writing for Gossipify for several years and has a degree in Marketing and Consumer Research from the University of Oxford.