Disney fires Marvel CEO. It’s part of the cost reduction

Marvel superheroes won’t have a boss soon. According to unofficial information, the managing director of Marvel Entertainment will lose his job.

Walt Disney is looking for ways to save money. Marvel has fallen

Walt Disney Co., a major entertainment mogul, is looking for ways to save money, according to Reuters. The crisis of recent months has also affected this company. This is mainly due to the long periods of quarantine due to the pandemic, which have paralyzed the film market, resulting in a lack of premieres of new films. Also closed bookstores and comic book stores, on which the studio also earns. All this hit the financial results of the giant.

Marvel director to lose job

The internal political struggle was added to the difficult position of the company. After the creation of the entertainment market giant, the struggle for power inside continued. One of their active actors was to be Isaac “Ike” Perlmutter, the head of Marvel Entertainment, responsible for the release of comics and superhero accessories. After failing to get Nelson Peltz on the company’s board of directors, Perlmutter could now run into bigger problems. According to Reuters, the director loses his position.

The decision is explained by the need to save money. Marvel Entertainment will be merged with another part of the enterprise and thus its boss will no longer be needed.

Director in charge of the merger

Isaac “Ike” Perlmutter took control of Marvel Entertainment in 1990 and has been running the company ever since. In 2009, he was responsible for the $4 billion sale to Disney. According to reports, the octogenarian director will be able to retire years later.