Peter Rice, Toby Emmerich and the Hollowing Out of Hollywood’s C-Suites

WAXWORD

“Erasing that much historic memory is very, very dangerous for legacy companies,” one observer says

It’s getting kind of quiet here in Hollywood. As one merger follows another, each one bringing with it a reorg, a restructure and lots of layoffs that help pay for it all, it is hard not to notice how empty the executive suites in the entertainment business have become. 

The firing of Peter Rice last week at Disney was shocking on its own, a power play by CEO Bob Chapek who gave no reason for removing a veteran executive widely regarded as good at his job and succeeding at a difficult period for Disney. Rice was, notably, Chapek’s most potent internal competitor for the CEO job, but it leaves him jobless at what ought to be the peak of his career.

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Sharon Waxman

Sharon Waxman, is the founder, CEO and Editor in Chief of TheWrap. She is an award-winning journalist and best-selling author, and was a Hollywood correspondent for The New York Times. Twitter: @sharonwaxman