The future of The Walt Disney Co.’s executive suite under CEO-designate Robert Iger began to take shape Friday when the company announced that its chief strategic officer is stepping down and that the group he oversaw will be downsized and decentralized.
Peter Murphy, who held the title of senior VP and chief strategic officer, will become a consultant working with Mr. Iger once Mr. Iger officially becomes CEO on Oct. 1.
According to the company, many of the strategic planning activities of Mr. Murphy’s group will be folded into the company’s studio, theme parks, consumer products and cable and television networks segments. The remaining strategic planning operation will focus on high-level corporate issues and explore acquisition opportunities and new technology.
Mr. Murphy has been with the company since 1988, first at ABC as chief financial officer of the network, then taking the post of chief strategic officer for ABC in 1998. He was a key player in Disney’s acquisition of Miramax, Fox Family Worldwide and the Muppets franchise.