Sean Bailey, the longtime Walt Disney executive who oversaw the studio's live-action films, will step down from his position, Burbank-based entertainment giant Walt Disney Co. announced Monday.
David Greenbaum has been appointed to the newly created role of president of Disney Live Action and 20th Century Studios, and will oversee film projects for both units spanning theatrical and streaming platforms. Billy will leave his position after 14 years at the helm of the team.
A high-level shakeup has been rumored at the top of Disney's live-action film unit, especially after the difficult performances of some recent films.
During his tenure, Bailey oversaw a series of live-action remakes, including “The Little Mermaid,” “Aladdin,” “Lion King” and “Beauty and the Beast.” Most of these films have exceeded $1 billion in box office receipts worldwide, while last year's “The Little Mermaid” grossed $560 million (and struggled in foreign markets).
But despite the notable successes, Billy's department was behind last year's box office flop, “The Haunted Mansion,” based on the Disneyland theme park ride.
Bailey's contract was set to expire next January, and he was reported to have been in discussions with Netflix executives to take over the top film position there. Although Bailey is not expected to make the move to Netflix's Sunset Boulevard campus, the revelation of the talks has led to significant thinking by Bailey and top Disney officials about the studio's live-action film strategy and pipeline, according to an unnamed person familiar with the matter. . To comment publicly.
The company said in its statement that Billy, who was not interested in extending his contract, will return to his roots as a producer of “Tron: Ares” for Disney.
The new leader, Greenbaum, most recently served as President of Searchlight Pictures, where he jointly managed the studio's film and television projects with Matthew Greenfield, who will continue his role as President of Searchlight Pictures. Disney acquired the specialty label as part of the $71.3 billion purchase of 21st Century Fox's properties from Rupert Murdoch nearly five years ago.
Searchlight has had significant awards success, and Greenbaum has helped guide dozens of feature films, including Oscar winners “The Shape of Water” and “Nomadland,” to the big screen. He also co-sponsored Yorgos Lanthimos' “Poor Things,” which is currently nominated for an Academy Award for Best Picture. Greenbaum was also involved in the making of previous notable films such as “The Menu,” “The Favourite,” “The Grand Budapest Hotel” and “Black Swan.”
Before joining Searchlight more than a decade ago, Greenbaum was a development executive at Miramax Films.
“David has an incredible creative sense and eye for filmmaking, and has built a reputation as an exceptional leader and creative executive, as proven by his proven track record at Searchlight Pictures and his deep relationships throughout the industry,” said Alan Bergman, Co-Chairman. From Disney Entertainment, in a statement.
“I'm thrilled that he will be taking on this important new role. We've been fortunate to have a strong creative leader in Steve Asbell at 20th Century, and I'm excited for him to work closely with David as we take a more strategic look across both brands from a creative standpoint.” And operationally. I would also like to thank Sean Bailey for his many contributions and leadership during his time at Disney.
Bailey said in a statement that it was the right time to move forward and wished Disney CEO Bob Iger, Bergman and others “the best for a bright future.”
“These 15 years at Disney have been an amazing journey, but the time is right for a new chapter,” Bailey said. “I am incredibly grateful to my exceptional team and proud of the roster and history we have built together. I joined Disney during the production of Tron: Legacy, so it seems only fitting that I will have the opportunity to work on the latest Tron while I am gone.
Netflix has not appointed a replacement for its head of film, Scott Stuber, who announced his departure from the company last month. A Netflix spokesperson was not immediately available for comment.