In a sudden turn of events that came as a broadside to most of Hollywood, Richard W. Cook, the highly respected and genial head at Walt Disney Studios has tendered his resignation, effective immediately.
The news came late Friday afternoon, September 18, 2009, and statements issued by Cook and Robert A. Iger, President and Chief Executive Officer of the Walt Disney Company have risen industry speculation as to the reason for such a swift departure, as well who could possibly handle all of Cook’s broad reaching responsibilities.
Cook 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 went on to say, “To wrap up my Disney experience in a neatly bundled statement is close to impossible. But what I will say is, during my time at the Studio, we have achieved many industry and Company milestones. Our talent roster is simply the best in the business. I believe our slate of upcoming motion pictures is the best in our history. But most of all, I love the people, my colleagues, my teammates, who are the most talented, dedicated and loyal folks in the world. I know that I leave the Studio in their exceptional hands.”
Iger’s comments were as follows: "Throughout his distinguished 38-year Disney career, Dick Cook's outstanding creative instincts and incomparable showmanship have truly enriched this company and significantly impacted Disney's great legacy." Iger went on to say, "We thank Dick for his tremendous passion for Disney, and his many accomplishments and contributions to The Walt Disney Studios, including a very promising upcoming film slate. On behalf of everyone at Disney, we wish him the best with all the future has to offer."
Cook oversaw every aspect for the development, production, distribution and marketing of all live-action and animated films released worldwide under the banners of Walt Disney Pictures, Touchstone Pictures, Hollywood Pictures and Miramax. He was also responsible for Disney's worldwide home entertainment operations under Walt Disney Studios Home Entertainment, as well as the Walt Disney Music Group, Walt Disney Theatrical Productions, Disney-ABC Domestic Television, Disney-ABC International Television, and the Studio's legal and business affairs plus all areas of new technology.
Cook’s resignation comes less than one month after Disney surprised the entertainment and investment industries with their $4 billion acquisition of Marvel Entertainment, Inc., which fostered curious commentaries due to the predominant traditional family oriented Disney brand versus Marvel’s roster of off-beat and somewhat darker superheroes.
Recent movies generated by the studio, Confessions of a Shopaholic, Bedtime Stories and Race to Witch Mountain, all had soft box office returns. On the other side of the cash box, the $291.4 million grossed in 16 weeks by UP (still showing in 366 theaters), with soon-to-follow, much anticipated films such as Robert Zemeckis, A Christmas Carol and Tim Burton’s, Alice in Wonderland, along with the push for 3-D generated products should easily keep Disney among the top four revenue generating studios in Hollywood.
Hard to say why there has been an abrupt parting of the ways, as “Chairman” Cook was highly visible last week when he presided over the D23 Expo, the first ever Disney fan convention, which was held in Anaheim, California.
One thing is for certain though; Cook’s shoes will be hard to fill, particularly because they belong to the biggest mouse in the world.
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