Disney fires Marvel chairman Isaac Perlmutter
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The Walt Disney Company has ousted Marvel Chairman Isaac Perlmutter after falling out with CEO Bob Iger. The New York Times. Information about the dismissal was confirmed by the company itself.
According to the publication, Mr. Perlmutter was informed about the dismissal yesterday, March 29, by phone. He was fired as part of a 7,000 job cut at Disney.
On a massive restructuring and plans to cut costs by $5.5 billion Disney announced February 8th. The company announced its intention to cut about 3% of its entire staff. As part of the restructuring, Disney will be divided into three parts: the film and television area, sports programs, and theme parks and merchandise.
According to The New York Times, the conflict between Bob Iger and Isaac Perlmutter began back in 2022 after Mr. Perlmutter supported investor Nelson Peltz, who was trying to get a seat on the board of directors of Disney. Mr. Eiger opposed this. Nelson Peltz dropped the idea of joining the board in February after the Disney CEO announced plans to cut costs.
The fact that Disney is going to cut costs and cut staff became known back in November 2022. In the same month the corporation again headed Robert Iger, who had been its CEO for 15 years, had retired a year earlier but returned “with a mandate from the board of directors to set the strategic direction to restart the company’s growth.” After the announcement of the restructuring plan, Disney shares rose 5%.
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