Chief Executive Officer Bob Iger, who rejoined Disney in November with a mandate to improve returns, has been restructuring the company, restoring authority to creative executives, while also reducing costs. The initiatives are expected to save Disney $5.5 billion, in part through the elimination of 7,000 positions.
Earley joined the company in 2019, overseeing marketing for the launch of the Disney+ service. He was elevated to president of Hulu last year and will continue to run that service until a full-time manager is appointed.
“Joe has proven himself to be an extraordinary asset and is uniquely positioned for this role as we guide Disney’s streaming strategy into the future,” Bergman and Walden said in the statement.
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