[ad_1]
By Mariko Oibusiness reporter
fake imagesDisney has shaken up the leadership of its live-action film studio as boss Bob Iger looks to turn around the entertainment giant’s fortunes.
The move will see the resignation of president of film production, Sean Bailey, after a decade and a half in the role.
It follows recent disappointing performances at the box office, including Haunted Mansion and Jungle Cruise.
He will be replaced by David Greenbaum, head of Disney’s Searchlight Pictures.
Disney said Bailey will remain with the company as a producer on the upcoming sci-fi film Tron: Ares and other projects.
During her tenure, Bailey oversaw the live-action adaptations of Alice in Wonderland, Maleficent, and The Jungle Book.
His blockbuster films also included The Lion King, Beauty and the Beast, and Aladdin.
Together, their productions generated approximately $7 billion (£5.5 billion) in global box office takings for the media giant.
But last year he was also responsible for The Little Mermaid, which did not achieve the success of others.
“Sean has been an incredibly important member of the studio’s creative team for more than a decade,” said Disney Entertainment co-chairman Alan Bergman.
“He and his team have brought iconic stories and moments to the screen that have delighted fans around the world and will stand the test of time.”
Greenbaum has been appointed to the newly created position of president of Disney Live Action and 20th Century Studios.
He was involved in the film Poor Things, which earned 11 nominations, including best picture, for this year’s Oscars.
Disney has been under pressure from activist investor Nelson Peltz, who has called for a restructuring of the business.
The American billionaire wants Disney to increase profits from its streaming business and improve the box office performance of its films.
Peltz has repeatedly demanded a seat on Disney’s board of directors. On Monday, the signing sent a letter to shareholders urging them not to support his candidacy to become a board member.
Earlier this month, Mr. Iger, announced a series of measures which he hopes will bring “significant growth” for the entertainment giant.
Plans include streaming an exclusive version of Taylor Swift’s Eras Tour concert film on Disney+.
The company will also invest $1.5bn (£1.2bn) in Epic Games, the creator of the popular video game Fortnite.
A day before that announcement, Disney also unveiled a joint venture with rivals Fox and Warner Bros. Discovery to launch new sports streaming platform.
Together, the three American media giants own a wide range of sports rights, including the FIFA World Cup, Formula 1, the National Football League, the National Basketball Association and Major League Baseball.
Iger previously ran Disney for 15 years before retiring at the end of 2021, but made a shocking return to the company Less than a year after resigning.
He returned after the company’s stock price plummeted and Disney+ continued to make losses.