Dick Cook Leaves Disney as Studio Chairman

In an unexpected move, Dick Cook, chairman of the Walt Disney Studios since 2002 and an executive at the company for 38 years, is stepping down, the studio announced late on Friday.

In the news release, Cook, 59, said: "I am stepping down from my role as chairman of The Walt Disney Studios, effective immediately. I have loved every minute of my 38 years that I have worked at Disney…from the beginning as a ride operator on Disneyland’s steam train and monorail to my position as chairman of The Walt Disney Studios."

He gave no reason other than to say he felt it was time to "move on to new adventures."

But executives familiar with the situation said that Disney President and CEO Bob Iger felt that Cook was too mired in the studio's traditional ways, and had green-lighted movies that were too backward-looking or out of step in their tone, including the remake of "Race to Witch Mountain" and "Confessions of a Shopaholic." 

In the news release, Iger praised Cook's "outstanding creative instincts and incomparable showmanship."

But one executive knowledgeable about Disney's strategy said that the studio was looking for a different mind set, and a more innovative approach in an entertainment media landscape that is undergoing vast transformation.

It was not immediately clear who would be stepping into Cook's powerful position.

Insiders suggested it would not be Oren Aviv, president of the Buena Vista Motion Picture Group.

Other insiders speculated about the rising profile of John Lasseter, who has risen to the role of chief creative officer for Pixar and Walt Disney Animation.

Although Disney had a strong summer with hits like "Up" - shepherded by Lasseter - the studio is still only fifth in market share among the major studios for the year.

"G-Force" brought in a boatload at the box office, but reportedly cost as much as $170 million to make.

In February, the "Jonas Brothers 3-D Concert Experience" brought in a dismal $23 million worldwide. Meanwhile, Valentine's Day sweetheart Isla Fisher failed to bring in big bucks at the box office with the romantic comedy "Confessions of a Shopaholic," which made $44 million stateside and $64 million abroad. 

That was followed by a remake of "Race to Witch Mountain" in March, which made $67 million in the U.S. and a scant $39 million abroad.

And though it was a hit overseas, Japanese director Hayao Miyazaki's "Ponyo," released in August in the states, has only banked $14 million domestically.

Cook began his career with Disney in 1971 as a monorail and amusement park ride operator. He moved to Disney studios in Burbank in 1977 to manage pay television and non-theatrical releases.

In 1980, he moved to the company's film distribution department, eventually heading both its distribution and marketing efforts.

 

1 | 2