The head of Disney’s DMED division was one of former CEO Bob Chapek’s executives.
Kareem Daniel, chairman of Disney’s Media and Entertainment Distribution (DMED) Group and chief lieutenant to former CEO Bob Chapek, is stepping down from his role. New CEO Bob Iger notified his DMED staff and subsequently all staff of the decision on Monday, he confirmed to IndieWire.
This was Iger’s first step in unraveling the structure put in place by his predecessor, and Daniel’s departure “requires a restructuring” of the DMED division led by Daniel. Many analysts expected the move after Sunday’s surprise news of his return as CEO. However, the move would see the company move away from an organization centered around its streaming division, putting some of the ways it releases and distributes content back into the hands of the creatives behind it.
“It is my intention to reframe things in a way that honors and honors creativity as our heart and soul. , our work also focuses on creating more efficient and cost-effective structures.
He will also task the remaining executives, including Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy, to help determine a meaningful new structure for Disney moving forward.Iger added that it hopes to introduce the new structure in the coming months.
“Undoubtedly, elements of DMED will remain, but we fundamentally believe that storytelling is the driving force of this company and central to how we organize our business,” he added.
Chapek’s Disney reorganization was one of his first steps as CEO in 2020, using Daniel’s longtime No. 2 to lead the DMED division, which is now Disney. We have a huge amount of oversight, including content and ad sales for Disney+. , distribution, operations and technology.
But analysts at Moffett Nathanson on Monday said the move “undermined the morale of creative leadership” and “delayed decision-making,” with DMED reporting $1.5 billion in Disney+’s recent earnings. Took much of the blame for the loss of dollars…reported. At a company retreat in 2021, Iger silently warned against focusing too much on data over creative decision-making.
Daniel is a Disney veteran dating back to 2006, having held roles in sectors such as consumer goods, games and publishing during his time at the company. Walt Disney Imagineering; Walt Disney Studios; and Corporate Strategy. Despite the loss at Disney+ and his Chapek hopes that the streamer will be profitable by 2024, Daniel believes that with his Disney+, Hulu, and his ESPN+ combined, he’s $200 million. Successfully grown to 35 million global subscribers.
Read the full contents of Iger’s note below.
Dear DMED Employees
As we embark on the transformative efforts that I shared in last night’s email, I would like to first extend my sincere gratitude and appreciation to each and every one of you.
In the coming weeks, we will begin implementing organizational and operational changes within the company. It is my intention to reframe things in a way that honors and respects creativity as our heart and soul. It’s time, and our efforts are also focused on building more efficient and cost-effective structures.
I enlisted Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to help design a new structure that puts more decision-making in the hands of the creative team and streamlines costs. This will require a reorganization. of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company, but we would like to thank him for his many years of service to Disney.
Our goal is to have the new structure in place in the coming months. Elements of DMED will no doubt remain, but I fundamentally believe that storytelling is the driving force behind this company and is at the heart of how they organize their business.
This is a moment of great change and opportunity for our company as we begin our second century, and I am proud to lead this team once again. Words cannot express my sincere gratitude for the wonderful work you do every day and your commitment to maintaining the level of excellence that Disney has always been known for.
We know change can be unnerving, but it is both necessary and energizing. Please be patient as we create a roadmap for this restructuring. More details will be shared over the next few weeks. Until the new system is in place, we will continue to operate under the current system. In the meantime, I hope everyone is having a wonderful Thanksgiving holiday.
bob
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