Now that Bob Iger is back at Disney, an overhaul of the C-suite is underway. Monday, Iger announced in an internal memo that Kareem Daniel is departing his role as the chairman of Disney Media and Entertainment Distribution. As one of Bob Chapek's top lieutenants atop the subsidary, Daniel oversaw the distribution and release of all Disney projects. In his role, Daniel ultimately became the deciding factor as to whether films got a theatrical or streaming reliease.
"I've asked Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to work together on the design of a new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs, and this will necessitate a reorganization of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company, and I hope you will all join me in thanking him for his many years of service to Disney," Iger wrote in his memo.
He added, "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."
Daniel's departure is likely the first of many as the company restructures amidst impending layoffs. Earlier this month, Chapek distributed a memo suggesting sizable layoffs were on the table as the company looked to improve its bottom line.
"We have undertaken a rigorous review of the company's content and marketing spending working with our content leaders and their teams," Chapek's memo read in part. "While we will not sacrifice quality or the strength of our unrivaled synergy machine, we must ensure our investments are both efficient and come with tangible benefits to both audiences and the company. Second, we are limiting headcount additions through a targeted hiring freeze. Hiring for the small subset of the most critical, business-driving positions will continue, but all other roles are on hold. Your segment leaders and HR teams have more specific details on how this will apply to your teams."