Earlier this week, Disney CEO Bob Iger revealed that over 7000 job cuts were set to happen across the company in three stages over the next few months, to reduce costs by over $5 billion. The first wave of cuts has begun this week and some more details have been revealed about some changes at Marvel, which will see Marvel Entertainment merged in with other departs within Disney, since the division is only centered on consumer products and it runs separately from Marvel Studios.
According to the New York Times, the Marvel Entertainment Chairman Ike Perlmutter has been let go from the company as part of the restructuring. Ike has been with Marvel since the 1990s, when the company was going through bankruptcy issues and back in 2009, Ike sold Marvel to Disney for $4 billion dollars.
There was also some issues between Ike Perlmutter and Kevin Feige during the making of “Doctor Strange”, which Bob Iger was able to sort out, but the Marvel Entertainment division has slowly had its role reduced, with the TV division being moved under Marvel Studios in 2019.
Earlier this year, Disney was involved in a proxy battle with Nelson Peltz, who Ike was lobbying for within the company to be let onto the board, so it probably shouldn’t be a huge surprise to see why Bob Iger decided now was an opportunity to remove him from the company and most employees have been concluding that his days were numbered.
Dan Buckley, president of Marvel Entertainment, will stay in place and report to Kevin Feige, however there have been some other Marvel executives released including Rob Steffens, co-president of Marvel Entertainment, and John Turitzin, chief counsel.
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