Walt Disney chairman Rich Ross has stepped down after less than three-years, which included the release of “John Carter,” an expensive science fiction epic that failed miserably.
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The failure of “John Carter” at the box office will lead to a quarterly loss of as much as $120 million for the studio. Under Ross, Disney has reduced film production to focus on pictures from Marvel, Pixar and DreamWorks Studios.
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In a memo to his staff Ross said:
“For the last 15 years, I have had the opportunity to work with incredibly talented people on behalf of the world’s best loved brand. During that time, we’ve told some amazing stories around the world, created successful TV programming, movies, and franchises that generated new opportunities for the company in the process.
I’ve always said our success is created and driven by our people – whom I consider to be the absolute best in the business. But, the best people need to be in the right jobs, in roles they are passionate about, doing work that leverages the full range of their abilities. It’s one of the leadership lessons I’ve learned during my career, and it’s something I’ve been giving a great deal of thought to as I look at the challenges and opportunities ahead.
I believe in this extraordinary Walt Disney Studios team, and I believe in our strong slate of films and our ability to make and market them better than anyone else. But, I no longer believe the Chairman role is the right professional fit for me. For that reason, I have made the very difficult decision to step down as Chairman of The Walt Disney Studios, effective today.
It has been my honor to work with such incredible teams – at Disney Channels Worldwide and The Walt Disney Studios and the many other Disney businesses I’ve had the opportunity to collaborate with. I know I leave the Studios in good hands and, even on separate paths, I am confident we are all destined for continued success.”
Disney CEO Bob Iger wished Ross well in a statement.
“Rich Ross’s creative instincts, business acumen and personal integrity have driven results in key businesses for Disney, redefining success in kids and family entertainment and launching franchises that generate value across our entire company,” Iger said. “I appreciate his countless contributions throughout his entire career at Disney, and expect he will have tremendous success in whatever he chooses to do next.”
