The Walt Disney Co., the world’s largest entertainment company, created a new division this week as it positions itself to manage the transition from traditional TV to on-demand viewing. Bloomberg reports that the company moved longtime strategy chief Kevin Mayer from behind the scenes to a “starring role.”
The 55-year-old Mayer, who previously sized up acquisitions for the company, is being placed “in charge of businesses that may determine the future of one of America’s best-known consumer brands,” Bloomberg notes.
“Chief Executive Officer Robert Iger handed Mayer a portfolio that includes the company’s investment in the Hulu streaming service, its international TV networks, as well as all program and advertising sales for ABC, ESPN and other channels,” the story reports. “He also expanded the role of parks chief Bob Chapek, giving the longtime executive added responsibility for the consumer products business.”
Bloomberg adds: “The reorganization puts the two senior executives in a potential bake-off to succeed Iger in December 2021. On one side, Chapek’s role steering parks and consumer products represents two of Disney’s biggest businesses. But Mayer will help carry out Iger’s vision for the future of TV — online programming that goes directly to consumers’ living rooms and smartphones. TV is Disney’s biggest business, though the company’s namesake parks posted the largest profit last quarter.”