The Walt Disney Company has completed a strategic
reorganization that divides its businesses into four divisions, including one
that combines parks, resorts, experiences and consumer products.
The division will "become the hub where Disney's
stories, characters and franchises come to life," the company said in a
statement. "By uniting Disney's consumer products business and Disney
Parks' robust retail and e-commerce operations, the company will be able to
share resources and best practices to provide consumers with incomparable
branded products and retail experiences," Disney stated.
Bob Chapek, chairman of Walt Disney Parks and Resorts,
assumed the additional responsibility of overseeing all of Disney's consumer-products
operations, including licensing and Disney stores. He will continue to report
directly to Disney CEO Bob Iger.
Disney's travel and leisure businesses include six resort
destinations in the U.S., Europe and Asia; Disney Cruise Line; Disney Vacation
Club; and the Adventures by Disney tour operator.
The reorganization also created a direct-to-consumer and
international division, a media networks division and a studio entertainment
The new direct-to-consumer and international segment will
serve as a global, multiplatform media, technology and distribution network for
Disney's studio entertainment and media networks content.
The other two divisions will remain much as they were.
Disney will transition to financial reporting under the new structure by the
beginning of fiscal 2019.