Bob Iger has been back in charge at The Walt Disney Company for only a day and already he is restructuring the company in the image of how he sees things moving forward. One of the first changes is firing one of former CEO Bob Chapek’s top lieutenants Kareem Daniel.
Iger sent out a memo to Disney Media & Entertainment Distribution staffers today sharing that he will be restructuring the company “in the coming weeks.” Iger shared in the memo that as a result of the restructuring, “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.” Daniel was the Chairman of Disney Media & Entertainment Distribution
“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,” Iger wrote.
“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.”
Iger shared that now is a time of both change and opportunity for Disney. He reiterated how thankful he was for the team and how proud he is to be leading Disney again. The memo wrapped with him acknowledging that “change can be unsettling, but it is also necessary and even energizing, and so I ask for your patience as we develop a roadmap for this restructuring.”
More details about the restructuring of Disney will be coming in the next few weeks. Daps Magic will continue to follow this story closely and provide updates as they become available. The full memo to the DMED can be read below:
Dear DMED Employees,
As we embark on the transformative work that I mentioned to you in my email last night, I want to begin by offering my sincere appreciation and gratitude to each and every one of you.
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.
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.
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.
This is a moment of great change and opportunity for our company as we begin our second century, and I am so proud to be leading this team again. I can’t say it enough: I’m 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, and so I ask for your patience as we develop a roadmap for this restructuring. More information will be shared over the coming weeks. Until a new structure is put in place, we will continue to operate under our existing structure. In the meantime, I hope you all have a wonderful Thanksgiving holiday, and thank you again for all you do.
Bob
