Source: Business Wire
kareem daniel, from Disney the head of media and entertainment, and right-hand man to now-deceased CEO Bob Chapek, is out of the company following Bob Iger’s return to the top job.
Iger announced Daniel’s departure in a memo to employees Monday along with a “new structure that puts more decision-making in the hands of our creative teams and streamlines costs.”
“This will require a reorganization of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company,” Iger said in the memo obtained by CNBC.
The decision marks the swift dismantling of one of Chapek’s major actions during his nearly three-year tenure as chief executive. Chapek reorganized the company to establish the DMED division and consolidate budgeting power for Disney’s content and distribution divisions under Daniel’s direction.
“Our goal is to have the new structure in place in the coming months. No doubt the elements of DMED will remain, but fundamentally I believe that storytelling is what fuels this company and belongs at the core of how we organize our businesses,” he said. Íger “This is a moment of great change and opportunity for our company as we enter our second century.”
Read the full note:
Dear DMED employees,
As we embark on the transformational work I mentioned to you in my email last night, I want to begin by offering my sincerest appreciation and gratitude to each and every one of you.
Over the next few weeks, we will begin to implement organizational and operational changes within the company. It is my intention to restructure things in a way that honors and respects creativity as the heart and soul of who we are. As you know, this is a time of tremendous change and challenge in our industry, and our work will also focus on creating a more efficient and profitable structure.
I asked Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to work together to design a new structure that will put more decisions back into our creative teams and streamline costs, and this will require a reorganization. from Disney Media & Entertainment Distribution. Kareem Daniel will be leaving the company as a result, and I hope all of you will join me in thanking him for his many years of service to Disney.
Our goal is to have the new structure ready in the coming months. Certainly the elements of DMED will remain, but I fundamentally believe that storytelling is what drives this company and is at the heart of how we organize our businesses.
This is a time of great change and opportunity for our company as we enter our second century, and I am very proud to lead this team again. I can’t say enough: I am incredibly grateful for the tremendous work you do each day and for your commitment to maintaining the level of excellence Disney has always been known for.
I know change can be unsettling, but it is also necessary and even energizing, so I ask for your patience as we develop a roadmap for this restructuring. More information will be shared in the coming weeks. Until a new structure is established, we will continue to operate under our current structure. In the meantime, I hope everyone has a wonderful Thanksgiving break and thanks again for all you do.
Correction: This story has been corrected to reflect that Bob Chapek was CEO of Disney for almost three years. An earlier version erroneously stated the mandate of him.
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