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

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

hollywood exodus layoffs Peter Rice Toby Emmerich
Hollywood exodus, including Peter Rice and Toby Emmerich (Photo illustration by TheWrap/Getty Images)

Sharon Waxman

Sharon Waxman On the Business of Entertainment

The founder and editor of TheWrap’s take on life on the left coast, high culture, low culture and the business of entertainment and media. Waxman writes frequently on the inside doings of Hollywood, and is is also the author of two books, Rebels on the Back Lot and Loot

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.