Executive turnover dialed up the palace intrigue in the Magic Kingdom this week.
Walt Disney Studios announced on Monday that 15-year veteran Sean Bailey would step down as president of its motion picture production group – a job in which he oversaw splashy live-action remakes of beloved animated properties. In his place, Searchlight Pictures co-head David Greenbaum was elevated and will report directly to top film boss Alan Bergman.
A creative shuffle amongst senior Disney film executives was always going to happen, many industry insiders who spoke with PvNew said. As Disney CEO Bob Iger continues to aggressively cut costs amid a nasty proxy battle with billionaire investor Nelson Peltz – and the company’s movies suffer from an uncharacteristic box office slump and creative torpor – many saw a move like Bailey’s as inevitable.
“Disney film needs a shot in the arm, clearly,” said one top agent speaking on the condition of anonymity. Bailey’s exit had been in the works for some time, sources said. After reportedly considering a C-suite role with Amazon Studios in 2023, word around town is that Bailey discussed taking Scott Stuber’s old gig as Netflix film chairman in recent weeks. An individual familiar with Netflix was insistent that Bailey was never in consideration – especially as the company announced on Wednesday that producer Dan Lin would instead succeed Stuber.
Either way, Bailey’s Disney contract was set to expire at the top of 2025 and he wanted out (or wanted to leave before he was pushed). The move was bittersweet for Iger and Bergman, both fond of Bailey (all three live on the same street in L.A.’s Brentwood area; Iger and Bailey are often spotted strolling through the luxurious neighborhood).
Well-liked and respected by many of his peers, Bailey is considering “entrepreneurial” options for his future. The exec sits on boards for Cal Tech and Sundance and is interested in politics, one individual familiar with him said. In his Disney role, Bailey shepherded remakes and spinoffs of studio classics, including billion-dollar blockbusters such “The Lion King,” “Beauty and the Beast” and “Aladdin.”
But recent painful stumbles like “The Haunted Mansion” and “Jungle Cruise” indicate that the brand familiarity that helped Disney’s shot-for-shot live action remakes to mint money is no longer enough to bring audiences to the screen. These changing tastes from moviegoers raises questions about films from Bailey’s former division, like this December’s “The Lion King” follow-up “Mufasa” (Dec. 20), and upcoming live-action adaptations of “Snow White” starring Rachel Zegler, “Moana” and “Lilo & Stitch.”
The division that Bailey oversaw is seen as easier to fix than other content labels at Disney. Kevin Feige’s Marvel and Kathleen Kennedy’s Lucasfilm deal with interconnected tentpole films and shows that are plotted out many years in advance. That makes it much harder to dramatically shift direction. That gives Feige and Kennedy more job security even though the divisions they lead have similarly struggled to produce movies that are commercially and creatively successful.
So what does Greenbaum bring? The former Searchlight executive’s strong relationships with talent and filmmakers are seen as a key asset. In addition to WDS, he’ll also run production for titles releasing under 20th Century Studios. Greenbaum clearly has the trust of Disney’s top brass. After all, he’s moved quickly up the corporate ladder. It was just three years ago when Greenbaum and Matthew Greenfield succeeded Nancy Utley and Steve Gilula as heads of Searchlight. He’s been credited with helping the indie label work more closely with its corporate cousin, Hulu, earmarking films like “Suncoast,” “Flamin’ Hot” and “Good Luck to You, Leo Grande” for streaming debuts – an acknowledgement of the difficult landscape for theatrical movies aimed at adults. At the same time, he’s still fielded box office successes that contend for Oscars such as “Poor Things” and “The Banshees of Inisherin.”
Some think that Greenbaum’s relationships and arthouse taste might lead to some interesting and pedigreed filmmaker and star choices for the more commercial-leaning Walt Disney Pictures slate (anybody wanna see Yorgos Lanthimos and Paul Mescal make a live-action “Aristocats”?).
The chatter among Hollywood’s power brokers also veered toward succession, as it often does. Iger has said he’ll step down for good as Disney’s CEO in 2026 (many are skeptical). Some see the installment of Greenbaum as a shoring up of power for Bergman – one of four internal candidates to eventually replace Iger as CEO — bringing in a loyalist who will help assemble a more exciting slate over the next 12 months.
A new favorite pastime is also tracking a so-called Disney CEO “bake off” for the Iger job. This includes creative executives like Bergman and Dana Walden, as well as ESPN leader Jimmy Pitaro and parks chief Josh D’Amaro. Two individuals with knowledge of Disney also said that recently hired CFO Hugh Johnston has quickly made a strong impression.
And what of the Disney movies we’ve got in the meantime? In an interesting turn, some of Disney’s most promising upcoming titles hail from 20th Century Studios. When Disney initially acquired Fox’s film assets in 2019, it was forced to release “X-Men” spinoff “Dark Phoenix,” the forgotten comedy “Stuber” and other financial duds. But fast forward to 2024, and “Deadpool & Wolverine” (July 26), “Kingdom of the Planet of the Apes” (May 10) , as well as impending “Avatar” sequels from James Cameron, appear to be among its buzziest properties.
All of a sudden, overseeing 20th Century no longer seems like a resume killer. In fact, it could help Greenbaum land an even bigger job.
