Top Disney exec Kareem Daniel to leave as Bob Iger returns

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Top Disney exec Kareem Daniel to leave as Bob Iger returns
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Kareem Daniel, who led Disney's film and TV production and distribution, is out following the return of CEO Bob Iger.

Kareem Daniel, the chairman of Walt Disney Co.’s vast media and entertainment distribution segment, is leaving the company as part of an organizational reshuffling that comes a day after Robert Iger returned as chief executive, according to a company note to employees viewed by MarketWatch.

“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 said in the memo.

Disney shares were largely unchanged after hours. They rose 6.3% to $97.58 in the regular session, the stock’s best day since Dec. 11, 2020. Iger returned to the helm after Disney executives forecast slower sales growth in the coming year, following a quarter in which a smaller slate of theatrical releases weighed on content sales, and softer results in its parks and media segments.

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