Disney Restructures Planning Division as Iger Takes Control

0

Walt Disney Co announced Friday that it is merging many of the functions of its strategic planning division into other parts of the company an apparent early move by incoming chief executive Robert Iger to assert control over the company.


The Burbank-based media company said the move would make the company more efficient while giving the four main business units — Studio Entertainment, Parks and Resorts, Consumer Products and Media Networks, and Disney’s international organization more control over their futures.


As part of the move Peter Murphy will step down from his position as senior vice president and chief strategic officer to become a senior adviser to Iger. Murphy, 42, will continue to identify trends affecting Disney and look for growth opportunities, the company said.


“This is the first step of Iger putting his footprint on Disney,” Richard Steinberg, chief investment officer of Steinberg Asset Management, told Bloomberg News. Steinberg’s Boca Raton, Fla.-based company owns 70,000 Disney shares among its $380 million in assets.


Disney said a smaller corporate planning group will continue to function at the company, developing a five-year plan for Disney as a corporation and looking at acquisition opportunities.


The change comes as Iger, 54, currently Disney’s president, takes control of the company from outgoing chief executive Michael Eisner, who plans to retire in October. Iger already has taken over many of Eisner’s duties, the retiring chief executive told analysts this week.

No posts to display