EXCLUSIVE: Disney film studio chief Ross steps down

LOS ANGELES Fri Apr 20, 2012 10:05pm IST

The Walt Disney Studios Chairman Rich Ross (L) and actor Tom Hanks pose at the world premiere of Disney Pixar's ''Toy Story 3'' at the El Capitan Theatre in Hollywood, California June 13, 2010. REUTERS/Danny Moloshok

The Walt Disney Studios Chairman Rich Ross (L) and actor Tom Hanks pose at the world premiere of Disney Pixar's ''Toy Story 3'' at the El Capitan Theatre in Hollywood, California June 13, 2010.

Credit: Reuters/Danny Moloshok

Related Topics

Stocks

   

LOS ANGELES (Reuters) - Rich Ross, chairman of Walt Disney Co's (DIS.N) movie studio, stepped down after a two-year stint that included the release of "John Carter," one of the biggest flops in recent Hollywood history.

Ross, named to the job in October 2009, was never able to duplicate the success he enjoyed as president of the Disney Channel, where he was credited with creating monster franchises that included "High School Musical" and "Hannah Montana."

"I no longer believe that the Chairman role is the right professional fit for me," Ross told his staff in an email.

Disney will not immediately name a new head for its studio, a source familiar with the matter said.

As the company's studio chief, Ross approved production of "John Carter," an expensive science-fiction epic whose development had started years earlier. The film's costs eventually ballooned to more than $250 million.

Disney said in March it expected the film to lose about $200 million, and to saddle its studio with $80 million to $120 million in operating losses.

Ross joined Disney Channel in 1996 as a programming and production executive and was promoted to president of the cable channel in 2004. As studio head, he replaced long-time chairman Dick Cook, who was forced out by Disney CEO Bob Iger.

Two weeks before his departure, Ross hosted a lavish Hollywood premiere for "The Avengers," a big-budget special effects film featuring action stars from Disney's Marvel subsidiary. The film is expected to be one of the summer's biggest hits.

(Reporting By Ronald Grover; Editing by Peter Lauria and Lisa Von Ahn)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Election 2014

REUTERS SHOWCASE

TCS Results

TCS Results

TCS net profit rises 51.5 percent, sees stronger sales growth.  Full Article | Quote 

Election 2014

Election 2014

Promises and more promises: India’s parties pitch their visions.  Full Article | Full Coverage 

India Markets

India Markets

Sensex slumps 207 points, at 2-1/2 week closing low.  Full Article 

Telecom Sector

Telecom Sector

RComm to raise mobile call tariff by up to 20 percent  Full Article 

Chinese Economy

Chinese Economy

China economic growth slows to 18-month low in first quarter  Full Article 

New Direction

New Direction

CEO Nadella pushes data culture at Microsoft.  Full Article 

Bitcoin ATM

Bitcoin ATM

China gets first bitcoin ATM, skirting bank crackdown.  Full Article 

Strong Sales Volume

Strong Sales Volume

Small is beautiful for Coca-Cola as volumes soar in China  Full Article 

Breakingviews

Breakingviews

Diageo throws money at Indian empire-building  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage