Disney CEO fires TV executive
Chapek replaces top content boss with Walt Disney Television entertainment chair
The Walt Disney Co. has abruptly fired Peter Rice, its most senior television content executive, citing an ill fit with Disney’s corporate culture, according to three people briefed on the matter who spoke on the condition of anonymity to discuss confidential information.
Rice, chair of Disney General Entertainment Content, a division of the company that makes more than 300 shows annually for platforms like ABC, Disney Channel, Disney+, Hulu and FX, was ousted by Disney CEO Bob Chapek in a brief meeting Wednesday, the people said. Rice, who has also overseen ABC News, most recently renewed his contract at Disney in August. It ran until the end of 2024. Disney will pay him out, the people said.
Rice declined to comment.
The ouster of Rice went off like a sonic boom in Hollywood, where he is widely admired. Many people in the entertainment business — outside of Disney at least — have seen Rice as a possible candidate to succeed Chapek as Disney’s CEO. Chapek’s decision is sure to generate questions about whether that chatter got a little too loud; Chapek has had a difficult few months with Disney becoming a political punching bag, particularly for Gov. Ron DeSantis of Florida and Disney’s stock price falling sharply amid industrywide concerns about the profitability of streaming services.
In April, Chapek fired the company’s most senior communications and government relations executive. The executive, Geoff Morrell, had joined Disney in January under a multiyear contract. Disney also paid him out. Thursday, Disney shares closed just above $103, a drop of almost 4%, which was more than the broader market’s decline of about 2%.
Susan E. Arnold, chair of Disney’s board, said in a statement that Chapek had the board’s backing — a rare public comment that indicates that, despite upheaval, Chapek is headed toward a contract renewal. His contract expires in February.
“The strength of the Walt Disney Co.’s businesses coming out of the pandemic is a testament to Bob’s leadership and vision for the company’s future,” she said. “In this important time of business growth
Walt Disney Co. CEO Bob Chapek fired his head of television, Peter Rice, for allegedly not being a team player, triggering a rare public statement of support for the CEO from the entertainment giant’s board of directors.
and transformation, we are committed to keeping Disney on the successful path it is on today, and Bob and his leadership team have the support and confidence of the board.”
Another Disney board member, speaking on the condition of anonymity to discuss company matters, said the board had never considered Rice as a candidate for CEO.
Disney confirmed that Rice would immediately leave the company but declined to comment as to why. After news of his ouster broke, Disney announced that Dana Walden, who has been chair for entertainment for Walt Disney Television, would succeed him. Walden, working in tandem with Rice, has recently delivered hits like “Abbott Elementary,” an ABC comedy, and “Only Murders in the Building,” a comedic crime drama on Hulu.
“Dana is a dynamic, collaborative
leader and cultural force who in just three years has transformed our television business into a content powerhouse,” Chapek said in a statement. “She and Peter have worked closely together for years to create the best programming in the industry.”
Chapek offered nothing more about Rice, eschewing the glowing platitudes that Hollywood usually turns to in these moments. Nor did Disney give Rice a parachute in the form of a production deal.
“I know all of us wish Peter the best,” Chapek said in an internal email that announced Walden’s ascent.
Walden said in a statement that it was “an incredible honor” to be promoted and praised the team assembled by Rice as “truly the absolute best in every respect.”
The group includes Kimberly Godwin at ABC News and Ayo Davis at Disney Branded Television.