SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Walt Disney Co. has terminated the chairman of Marvel Entertainment, and the company said this move is part of its campaign to reduce costs. Isaac “Ike” Perlmutter has been dismissed, and it happened after his failed effort to shake up the company’s board.
A source who is familiar with the situation reportedly confirmed on Wednesday, March 29, that Marvel Entertainment’s chairman had been laid off. Perlmutter is already 80 years old and has been actively supporting Nelson Peltz, who is an activist shareholder who failed to earn a seat on Disney’s corporate board this year.
According to Reuters, the senior executive was notified about his work termination by phone on Wednesday. The Marvel Entertainment unit that he has been leading is a small division at Disney that is mainly responsible for some consumer products and comic book publishing.
The company is planning to merge Marvel Entertainment into larger business units within the company after Perlmutter leaves. But while the 80-year-old chairman was dismissed, the unit’s president, Dan Buckley, will be retained, and he will now directly report to Marvel Studios’ president, Kevin Feige.
The firm’s chief executive officer, Bob Iger, announced that the company is starting the first round of the planned job cuts, and on Monday this week, it has already let go of 7,000 employees. Apparently, Perlmutter is one of those affected by the layoffs.
Walt Disney Company is undergoing a restructuring after Bob Iger took over the CEO role, succeeding Bob Chapek. Under his leadership, he has been making moves that include job cuts in an effort to save about $5.5 billion in costs. The aim of the decision is also to make its streaming business more profitable.
Photo by: Gage Skidmore/Flickr(CC BY-SA 2.0)
