One day after his surprising return to the Walt Disney Co. CEO’s office, Bob Iger sent a memo to employees Monday saying sweeping changes are afoot in the company’s operational structure, while also announcing the ouster of a top executive.
Iger said Kareem Daniel, who oversees Disney’s Media and Entertainment Distribution unit, is leaving the company. Iger asked Disney employees to “join me in thanking him for his many years of service to Disney.” Daniel had been with the company since 2006 and was appointed to his most recent post by now-former CEO Bob Chapek in October 2020.
“Over the coming weeks, we will begin implementing organizational and operating changes within the company,” Iger wrote in a memo originally sent to Media and Entertainment Distribution employees, and then shared with the company at large. “It is my intention to restructure things in a way that honors and respects creativity as the heart and soul of who we are. As you know, this is a time of enormous change and challenges in our industry, and our work will also focus on creating a more efficient and cost-effective structure.”
He said he asked company execs 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.”
“This is a moment of great change and opportunity for our company as we begin our second century, and I am so proud to be leading this team again,” Iger wrote. “I can’t say it enough: I’m incredibly grateful for the tremendous work you do each day, and for your commitment to maintaining the level of excellence Disney has always been known for.
“I know change can be unsettling, but it is also necessary and even energizing, and so I ask for your patience as we develop a roadmap for this restructuring. More information will be shared over the coming weeks. Until a new structure is put in place, we will continue to operate under our existing structure. In the meantime, I hope you all have a wonderful Thanksgiving holiday, and thank you again for all you do.”