Disney Reportedly Fires Top Executive
Disney has fired one of its top executives: Peter Rice, senior television content executive. According to reports, Rice had no idea that the firing was coming; there are currently conflicting reports about whether Rice was "an ill fit with Disney's corporate culture," or simply a part of a TV strategy that Disney is no longer going with. Either way, Rice is out after joining Disney as part of the 2019 merger with 20th Century Fox (where Rice really made strides in his career). He just had his contract renewed for 2021-2024, and was allegedly given an undisclosed payout as part of his departure.
The deeper report by CNBC points to rumors that Rice was being looked at as a possible candidate to succeed current Disney CEO, Bob Chapek, who took over the chief executive role from Bob Iger. He is a veteran of Hollywood (more than 30 years in the business) and his firing is sparking words like "unheard of" in response to the announcement. Simply put, nobody expected the veteran executive to be so unceremoniously ousted form the Disney family.
Dana Walden, who also made the transition from Fox to Disney during the merger, will take over for Rice, Disney has confirmed.
"Dana is a dynamic, collaborative leader and cultural force who in just three years has transformed our television business into a content powerhouse that consistently delivers the entertainment audiences crave," Bob Chapek said in a statement. "Her well-earned reputation for championing creative talent and developing programming that truly captures the cultural zeitgeist has resulted in hit after hit, from ABC's 'Abbott Elementary' and Onyx Collective's Academy Award-winning 'Summer of Soul,' to Hulu Originals like 'Only Murders in the Building,' 'Dopesick,' 'The Dropout' and 'The Kardashians.' She and Peter have worked closely together for years to create the best programming in the industry, and I can think of no one better than Dana to lead Disney General Entertainment to even greater heights."
Rice was responsible for overseeing Disney's TV brands, including 20th Century Television, ABC Entertainment, ABC News and FX, among others. Disney has been making clear and public strides towards further leaning into the streaming side of things; at this time it's unclear if Rice may or may not have been on the same page of thinking in terms of a streaming content future, as opposed to traditional TV distribution lanes.
Disney has been mired in controversy under Chapek's run, from the inevitable financial and production issues caused by the COVID-19 pandemic to social controversies like the recent LGBTQ+ culture wars with Florida and its legislative mandates. Disney Board Chairperson Susan Arnold made an additional statement in light of Rice's firing, to re-assert Disney's stability under Chapek:
"The strength of The Walt Disney Company's businesses coming out of the pandemic is a testament to Bob's leadership and vision for the company's future," Arnold said. "In this important time of business growth and transformation, we are committed to keeping Disney on the successful path it is on today, and Bob and his leadership team have the support and confidence of the Board."