Bob Iger is wasting no time in reshaping Disney after returning as CEO. Iger has announced that restructuring at the media giant is underway, with Kareem Daniel set to step down.
In a memo to Disney staffers, Iger announced restructuring at the media giant will begin “in the coming weeks.” As part of that restructuring,, chairman of Disney Media and Entertainment Distribution, will be stepping down, with Iger thanking Daniel for “his many years of service to Disney.”
“Our goal is to have the new structure in place in the coming months,” he continued. “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.
Over the coming weeks, we will begin implementing organizational and operating 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 enormous change and challenges in our industry, and our work will also focus on creating a more efficient and cost-effective structure.
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.
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