Disney Fire Second Top Executive In Weeks
Disney is undergoing a massive shake up, firing the second of its top executives within a number of weeks.
Peter Rice, chairman of general entertainment content at the company, was fired despite renewing his contract mere months ago. The company announced Rice would be replaced by Dana Walden, his longtime deputy.
This follows the departure of Geoff Morrell, the company’s head of corporate affairs and top communications executive, who left the company in April, telling staff he was no longer a “good fit” for the company.
It is believed Rice was also told he was “no longer a good fit” at Disney.
Susan Arnold, chairman of Walt Disney’s board of directors issued a statement of support for CEO Bob Chapek, who has been under investor pressure after share prices have almost halved this year.
“The strength of The Walt Disney Company’s businesses coming out of the pandemic is a testament to Bob’s leadership and vision for the company’s future,” Arnold said.
“In this important time of business growth and transformation, we are committed to keeping Disney on the successful path it is on today, and Bob and his leadership team have the support and confidence of the board.”