LPWire: Disney Co. To Reorganize Strategic Planning Division
The Walt Disney Company To Reorganize Strategic Planning Division
To address today's rapidly evolving global
business landscape, Michael D. Eisner, chief executive officer of The Walt
Disney Company, and Robert A. Iger, president and chief operating officer and
CEO-elect, today announced a restructuring of the company's Corporate Strategic
Planning Division. The division will be restructured to more closely align with
the company's growth priorities, including creativity and innovation, new
technologies and international expansion. Many of Strategic Planning's
activities will be incorporated into the company's four business segments --
Studio Entertainment, Parks and Resorts, Consumer Products and Media Networks,
as well as Disney's international organization. A smaller corporate group will
continue to develop the corporate five-year plan and focus on acquisition
opportunities, emerging businesses new to the company's existing portfolio and
new technologies.
"Strategic planning will continue to play an important role in identifying the
opportunities and challenges presented to our company as we grow our leadership
position as the most valuable entertainment brand in the world," said Mr. Iger.
"This new structure will create efficiency with accountability and empower our
business unit leaders in their ongoing efforts to create new, differentiated and
compelling entertainment experiences that will ultimately generate long-term
shareholder value."
"For more than 15 years, Strategic Planning has been an essential catalyst to
Disney's growth by identifying new opportunities and expanding existing
businesses. We have been extremely well-served by their efforts and now, the
size, scope and dynamic nature of our individual businesses allow for this
evolution," said Mr. Eisner.
Peter E. Murphy will step down from his current role as senior executive vice
president and chief strategic officer and will serve as a senior adviser to Mr.
Iger. Mr. Murphy will advise the company on long-term strategic and
technological trends affecting Disney and identify major growth opportunities.
"Peter's vast contributions during his tenure at Disney, particularly his
leadership role in the acquisition of Capital Cities/ABC, helped transform
Disney into a market-leading global media company," said Mr. Iger. "His
extensive experience and knowledge of our businesses, technology and strategy
will continue to benefit The Walt Disney Company."
"Over the last 17 years, Peter's foresight and talent have played a major role
in making Disney what it is today, from his role in transforming strategic
acquisitions to the development of new technologies and franchise opportunities,
these efforts will continue to benefit Disney shareholders well into the
future," said Mr. Eisner.
Mr. Murphy joined Disney's Corporate Strategic Planning Division in 1988, served
as the Chief Financial Officer of ABC, Inc. after the Capital Cities
acquisition, and was promoted to his current role in 1998. In addition to
leading the acquisition of Capital Cities/ABC, Inc., Mr. Murphy played an
instrumental role in several company acquisitions, including Miramax Film
Corporation, Disney's stakes in E! Entertainment Television and US Weekly
Magazine, Fox Family Worldwide, Baby Einstein Corporation and the Muppets
franchise. Mr. Murphy also aided in the expansion of Disney's cable television
presence worldwide, as well as its broadband and wireless services. While in his
current position, Mr. Murphy also has overseen corporate brand management and
new technology development. Mr. Murphy, 42, is a Phi Beta Kappa and honors
graduate of Dartmouth College and the Wharton Graduate School of Business.
--Posted March 28, 2005
Source: The Disney Company