Disney Lays Off Chairman of Marvel Entertainment Isaac Perlmutter
Isaac Perlmutter, Marvel Entertainment Chairman has been laid off in his role as cuts continue across the Walt Disney Company.
According to a piece just released from the New York Times, Disney confirmed that Mr. Perlmutter was informed of his dismissal today during a phone call. Marvel Entertainment was a small, consumer products-focused division that was run separately from Marvel Studios. However, it will now be incorporated into larger Disney business units.
As we previously mentioned here at MickeyBlog, Disney is expected to eliminate roughly 7,000 jobs as the company, with Bob Iger back at CEO, is attempting to increase financial results.
For those unfamiliar, Perlmutter has been at odds with Disney higher-ups for a while now. He encouraged activist investor Nelson Peltz to advocate for a position on the Disney board. This resulted in a proxy battle which ultimately fell flat.
Perlmutter has a long history with Marvel, he famously sold the company to Disney in 2009 for $4 billion. He had been at the helm at the company since the 1990s. However, his importance at Marvel began to dwindle in the era of Kevin Feige high-profile president of Marvel Studios. Feige and Perlmutter were frequently at odds over project spending and over the years Perlmutter’s role moved away from the MCU and towards game licensing, consumer products and arena shows.
Perlmutter’s dismissal is just one of several announcements about Disney cuts being made over the last couple of days. This also includes Rob Steffens, co-president of Marvel Entertainment and John Turitzin, chief counsel for the division.
According to the piece in NYT, Dan Buckley, president of Marvel Entertainment will be staying on and will reporting directly to Feige.
We expect more details on the Disney layoffs to continue over the course of the next few days. Readers are encouraged to keep following along with us for more news and updates.
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