Disney outs Marvel Entertainment Chairman Ike Perlmutter

Disney is letting go of Isaac “Ike” Perlmutter. Disney is folding his Marvel Entertainment unit to other parts of the company.

Perlmutter acquired Marvel in 1998 through a toy company he controlled. He then helped orchestrate the sale to Disney at $4 billion.

He had oversight of Marvel Studios where films were based on Marvel characters. However, Marvel Studios was later moved into Disney’s larger film operations.

Perlmutter and Kevin Feige had a feud following which the former was planning to fire Feige. Bob Iger revealed the same to CNBC in February 2023.

Disney’s calendar of events revealed that Perlmutter was the first to reach out to CEO Bob Chapek to discuss about a meeting with Nelson Peltz.

Iger became the CEO and Peltz dropped his proxy fight in February. This happened after Iger reported strong quarterly earnings for the company and announced his turnaround plans.

The decision to fold Marvel Entertainment is a part of Disney’s larger layoff push and it is hard not to witness the broader context around Perlmutter’s involvement with the company.

Another person who is being let go is Rob Steffens, the co-president of Marvel Entertainment. The news was first reported by The New York Times.

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