Disney: Marvel
Perlmutter, 80, a shareholder who supports Nelson Peltz, did not make a successful bid this year for a seat on Disney’s board.
Walt Disney Co has fired Marvel Entertainment CEO Isaac “Ike” Perlmutter as part of a cost-cutting drive, a source revealed on Wednesday. Perlmutter, 80, a shareholder who supports Nelson Peltz, did not make a successful bid this year for a seat on Disney’s board.
execs were told by phone Wednesday that Marvel Entertainment, a small division within the company that handles comic book publishing and some consumer products, will merge with the larger Disney business unit, according to a second source. say. Perlmutter could not immediately be reached for comment.Also Read: 5 Best steps to become Meta Business partner in 2023
Dan Buckley, president of Marvel Entertainment, will stay on and report to Marvel Studios president Kevin Feige, a second source said. Disney began cutting 7,000 jobs on Monday, to save $5.5 billion in costs and make its streaming business more profitable.
Perlmutter, who denied billionaire Carl Icahn control of the comic book publisher in the late 1990s, sold Marvel to Disney for $4 billion in 2009. Disney CEO Bob Iger reorganized Marvel in 2015, putting Marvel Studios under Walt Disney Studios. Perlmutter retains the title of CEO of Marvel Entertainment, a division that oversees publishing, games, digital media and some consumer products. Perlmutter, who friends said was frustrated with Disney’s financial performance under former CEO Bob Chapek, took the unusual step of reaching out to Disney board members and executives several times. Last year to support the Peltz team, according to the law. deposit.
Peltz and Perlmutter are travel buddies in the same neighborhood in Palm Beach, Florida. Disney analysts have expressed disbelief at Perlmutter’s role on behalf of the shareholder.
