Jakarta, CNN Indonesia —
Marvel Entertainment chairman Isaac Perlmutter or Ike Perlmutter has been fired by Walt Disney Co. Sources confirmed the news of the dismissal on Wednesday (29/3) US time in the midst of a cost-cutting campaign.
Not only Perlmutter, Marvel Entertainment vice president Rob Steffens and chief adviser John Turitzin were also dismissed by Disney.
Marvel Entertainment is a division of the large corporation responsible for publishing comic books and some consumer products.
As reported by Reuters, executives were informed via phone call on Wednesday (29/3) that Marvel Entertainment would be merged into a larger Disney business unit.
So now, only Dan Buckley remains as the division president who will report to Marvel Studios big boss Kevin Feige.
Meanwhile, the dismissal action has been carried out by Disney since Monday (27/3). Disney eliminated some 7,000 employees in a bid to save $5.5 billion in costs and benefit its streaming business.
Perlmutter actually still owns most of Disney’s shares. He was recently at the center of investor Nelson Peltz’s struggle to join the board of Disney.
Perlmutter first assumed control of Marvel Entertainment in 1990 when the comic book publishers filed for bankruptcy and merged into Toy Biz, the toy company run by Perlmutter and Avi Arad.
However, he sold Marvel to Disney for US$4 billion in 2009. At that time, Disney stated that Perlmutter would be able to continue to oversee Marvel properties until 2023 when he was fired by Disney.