Sean Bailey, the former Walt Disney Co. executive who oversaw the studio's live-action films, will resign, the Burbank-based entertainment giant announced Monday.
David Greenbaum has been appointed to the newly created role of president of live action for Disney and 20th Century Studios, and will oversee film projects for both units spanning theatrical and streaming platforms. Bailey will step down from his position after 14 years at the helm.
A high-level change at the top of Disney's live-action film unit has been rumored, particularly after the shaky performance of some recent films.
During his tenure, Bailey oversaw a series of highly successful live-action remakes, including “The Little Mermaid,” “Aladdin,” “The Lion King” and “Beauty and the Beast.” Most of those films surpassed $1 billion in worldwide box office receipts, while last year's “The Little Mermaid” grossed $560 million (it struggled in foreign markets).
But despite the high-profile successes, Bailey's division was behind last year's box office flop, “Haunted Mansion,” inspired by the much-vaunted Disneyland theme park attraction.
Bailey's contract was due to expire next January and he was reported to have had talks with Netflix executives about taking the top film job there. While Bailey is not expected to move to Netflix's Sunset Boulevard campus, revelations from the conversations prompted considerable reflection by Bailey and Disney's top brass about the studio's live-action film strategy and portfolio, according to a knowledgeable person who was not authorized. to comment publicly.
Bailey, who was not interested in extending his contract, will return to his roots as a producer of “Tron: Ares” for Disney, the company said in its statement.
New leader Greenbaum most recently served as president of Searchlight Pictures, where he co-managed the studio's film and television projects with Matthew Greenfield, who will continue in his role as president of Searchlight Pictures. Disney acquired the specialty label as part of its $71.3 billion purchase of 21st Century Fox properties from Rupert Murdoch nearly five years ago.
Searchlight has had much awards success, and Greenbaum helped guide dozens of feature films to the big screen, including Academy Award winners “The Shape of Water” and “Nomadland.” He also participated in the direction of “Poor Things”, by Yorgos Lanthimos, which is currently nominated for an Oscar for best picture. Greenbaum was also involved in the making of notable films of the past such as “The Menu,” “The Favorite,” “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 sensibility and eye for filmmaking, and has earned a reputation as an exceptional creative leader and executive, as evidenced by his track record at Searchlight Pictures and his deep relationships across the industry,” said Alan Bergman, Co-President . from Disney Entertainment, in a statement.
“I am delighted that he is taking on this important new role. We've been very fortunate to have a strong creative leader in Steve Asbell at 20th Century, and I'm excited to have him working closely with David as we look more strategically at both brands from a creative and operational standpoint. I also want to thank Sean Bailey for his many contributions and leadership during his tenure at Disney.”
Bailey, in a statement, said it was a good time to move forward and wished Disney Chief Executive Bob Iger, Bergman and others “the best for a bright future.”
“These 15 years at Disney have been an incredible journey, but the time is right for a new chapter,” Bailey said. “I am deeply grateful to my exceptional team and proud of the success and history we have built together. I joined Disney while producing Tron: Legacyso it seems appropriate that I have the opportunity to work on the latest tron when I leave.”
Netflix has not named a replacement for its film chief, Scott Stuber, who announced his departure from the streaming service last month. A Netflix spokesperson was not immediately available for comment.
