Walt Disney has abruptly fired Peter Rice, its top CEO of television content, citing poor compliance with Disney’s corporate culture, according to three insiders who spoke on condition of anonymity to discuss confidential information. .
Mr. Rice, chairman of Disney General Entertainment Content, a division of the company that makes more than 300 shows a year for platforms such as ABC, Disney Channel, Disney +, Hulu and FX, was fired by Bob Chapek, CEO of Disney, in a brief meeting on wednesday, these people said. Mr Rice, who also watched ABC News, last renewed his contract with Disney in August. It lasted until the end of 2024. Disney will pay him, people said.
Mr Rice declined to comment.
Mr Rice’s removal was a sound boom in Hollywood, where he was widely admired. Many people in the entertainment business (at least outside of Disney) have even seen Mr. Rice as a possible candidate to succeed Mr. Chapek as CEO of Disney. Mr Chapek’s decision will certainly raise questions as to whether this chatter has become too strong; Mr Chapek had a difficult few months as Disney became a political punching bag, especially for Florida Gov. Ron DeSantis, and Disney’s share price plummeted amid concerns across the industry about the profitability of streaming services.
In April, Mr. Chapek fired the company’s top communications and government chief; CEO Jeff Morel joined Disney in January under a multi-year deal. Disney paid him too. Disney shares closed at just over $ 103 on Thursday, down nearly 4 percent from more than a 2 percent drop in the broader market.
Susan E. Arnold, chairman of Disney’s board, said in an e-mail statement that Mr Chapek had the board’s support – a rare public comment that showed that despite the upheaval, Mr Chapek was looking to renew the contract. His current contract expires in February.
“The strength of the Walt Disney Company business emerging from the pandemic is a testament to Bob’s leadership and vision for the company’s future,” Ms. Arnold said. “In this important time of business growth and transformation, we are committed to keeping Disney on the successful path it is taking today, and Bob and his leadership team have the support and trust on board.”
Another member of the Disney board, who spoke on condition of anonymity to discuss the company’s issues, said the board never considered Mr Rice as a candidate for CEO.
Disney has confirmed that Mr Rice will leave the company immediately, but declined to comment on why. Following the news of his removal, Disney announced that Dana Walden, who was chair of entertainment at Walt Disney Television, would succeed him. Ms. Walden, working in tandem with Mr. Rice, recently released hits such as “Abbott Elementary,” an ABC comedy, and “Only Murders in the Building,” a comedy crime drama about Hulu.
“Dana is a dynamic, co-leader and cultural force that has turned our television business into a powerful content hub in just three years,” Mr Chapek said in a statement. “She and Peter have been working closely together for years to create the best programming in the industry.”
Mr. Chapek offered nothing more for Mr. Rice, avoiding the brilliant banal words that Hollywood usually refers to in those moments. Disney also did not give Mr. Rice a parachute in the form of a production deal. (“I know we all wish Peter the best,” Mr Chapek said in an internal email announcing Ms. Walden’s ascent.)
Ms Walden said in a statement that it was “an incredible honor” to be promoted and praised the team assembled by Mr. Rice as “truly the best in every way.” The group includes Kimberly Godwin of ABC News and Ayo Davis of Disney Branded Television.
Mr Rice’s sudden departure tears apart a powerful trio that Disney inherited from 21st Century Fox, which it agreed to buy from Rupert Murdoch in 2017. Mr Rice, Ms Walden and FX Networks chairman John Landgraf are working closely together. cooperation at Fox for decades.
Mr. Rice, kind but often impenetrable to those who worked with him, began his entertainment career in 1987 when he was a summer intern at Mr. Murdoch’s film studio. Over the next three decades, he will become closer to Mr Murdoch, rising to become president of the 21st Century Fox. Along the way, Mr. Rice turned Fox Searchlight into an Oscar and a box office superpower, delivering idiosyncratic hits such as “Little Miss Sunshine,” “Sideways” and “Slumdog Millionaire.”
The Shake of Disney was a shock to both Mr. Rice and Mrs. Walden, informed people said. Just three weeks ago, Disney sent Mr. Rice to the startup, the company’s annual showcase for the advertising industry. A noticeable preliminary appearance usually indicates that the position of the CEO in a company is strong.
Mr Rice, who was introduced to the stage by Steve Martin, Martin Short and Selena Gomez, the stars of “Only Murders in the Building”, spoke of Disney’s strong market position, pointing out that it was “the only company that is not has been bought or sold in the last 100 years. “
Disney’s television department is doing well. In addition to “Only Murders in the Building,” Hulu recently aired “The Dropout,” a critically acclaimed limited series about Theranos founder Elizabeth Holmes. The leading shows for ABC News, Good Morning America and World News Tonight remain the most watched morning and evening news programs.
Ms. Walden’s connections in Hollywood, as well as Mr. Rice’s, are deep. Jay Sures, co-chair of the United Talent Agency, called her “perhaps the best creative CEO in the television business”, adding that “she is loved by talent”.
Add Comment