Bad Day at Work: John Carter Loses $200 Million, Disney Film Boss Fires Himself
Disney isn't always The Happiest Place on Earth — not when you're in charge of Walt Disney Pictures and in less than three years your studio has lost about $270 million in movie bombs.
Rich Ross quit his job today, not even waiting for a Donald Trump-esque "You're fired." In the past two years, the Disney film boss has seen back-to-back flops, first the animated film Mars Needs Moms lost $70 million and this year John Carter resulted in a $200 million loss for the studio. Yeah, that's a lot.
"For the last 15 years, I have had the opportunity to work with incredibly talented people on behalf of the world's best loved brand," Rich Ross said in a statement. "But, the best people need to be in the right jobs, in roles they are passionate about, doing work that leverages the full range of their abilities. I no longer believe the chairman role is the right professional fit for me. For that reason, I have made the very difficult decision to step down as chairman of The Walt Disney Studios, effective today."
Disney didn't immediately name a replacement. Before you cry too hard for Rich Ross, his first name probably covers how he's going to leave this situation. He's a studio executive and when an executive "quits" it's not the same as, say, a barista quitting because they've screwed up one too many coffee orders. Even though big-shot mistakes are at a higher level ($270 million!) they tend to be compensated well in severance packages. If only we could all sign up for rich people’s problems!