The Chairman Of Marvel Entertainment, Ike Perlmutter, Has Been Laid Off By Disney
Image Source: Vanity Fair
The most recent shake-up at Disney is the layoff of Marvel Entertainment chairman Isaac (Ike) Perlmutter. The move was made as Marvel Entertainment would come under the umbrella of other Disney businesses united per two executives at Disney who spoke with the New York Times anonymously. In recent weeks, Disney cut close to four percent of its workforce worldwide. This is, in part, an effort to cut $5.5 billion to improve Disney’s finances in order to grow the company’s streaming capabilities.
Mr. Perlmutter was known as a frugal executive and a distraction for over a decade. As of late, Mr. Perlmutter’s latest endeavor was an attempt to place activist investor Nelson Peltz on the board of Disney. When his effort was denied, Perlmutter endeavored to land himself a position on the board, claiming once there, he would be able to cut costs more effectively.
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Disney also landed off co-president of Marvel Entertainment Rob Steffens and chief council of Marvel Entertainment John Turitzin, leading to employees throughout the company speculating Perlmutter’s days were numbered. The President of Marvel Entertainment will remain in his post and report to Kevin Feige. Isaac Perlmutter worked very little on Marvel’s films since a reported dispute between himself and Kevin Feige regarding budgetary costs over 2015’s Doctor Strange. From there, his purview was limited to comics publishing, game licensing, consumer products, and superhero arena events.
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Source: The New York Times
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