Ross out at Disney after movie calamity
April 23, 2012
Richard Ross, the highly successful head of Disney Channel who became chairman of Disney Studios in 2009, has stepped down because of the record flop movie John Carter. He announced in an email: “I no longer believe that the chairman role is the right professional fit for me.”
At the movie division, Ross, 50, approved production of the science fiction film John Carter, although it had been in development before he joined the studio. The film eventually cost more than $250 million and last month Disney said it expected the film to lose about $200 million. That would leave the studio with $80 million – $210 million in operating losses.
The company’s Chief Executive Bob Iger hailed Ross’s contribution: “For more than a decade, Rich Ross’ creative instincts, business acumen and personal integrity have driven results in key businesses for Disney.”