Disney's President of Streaming Entertainment Michael Paull to Leave Company Amid Major Restructuring

Highlights

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• Michael Paull, the president of Disney's streaming entertainment unit, is leaving the company after six years of service.
• Paull played a key role in launching and growing Disney's flagship streaming service, Disney+, as well as overseeing Hulu, ESPN+, and Star.
• Paull's departure is part of a major restructuring of Disney's entertainment business led by CEO Bob Iger, who aims to cut $5.5 billion in costs and focus on streaming as the future of the company.
• Iger has been reshuffling top executives and consolidating content divisions to streamline the production and distribution of content across platforms.
• Paull joined Disney in 2017 as CEO of BamTech, a technology company Disney acquired to power its streaming ambitions.
• Paull was appointed president of Disney's streaming unit in January 2022, succeeding former CEO Bob Chapek, who became chairman of Disney Parks, Experiences, and Products.

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In a surprising move, Disney announced on Wednesday that Michael Paull, the president of its streaming entertainment unit, will be leaving the company after six years of service. Paull was instrumental in launching and growing Disney's flagship streaming service, Disney+, as well as overseeing Hulu, ESPN+ and Star.

Paull's departure comes amid a major restructuring of Disney's entertainment business, led by CEO Bob Iger, who aims to cut $5.5 billion in costs and focus on streaming as the future of the company. Iger has been reshuffling his top executives and consolidating his content divisions to streamline the production and distribution of content across platforms. In the previous month, Disney made an announcement regarding potential job reductions of up to 7000.

Paull joined Disney in 2017 as the CEO of BamTech, a technology company that Disney acquired to power its streaming ambitions. He was appointed as the president of Disney's streaming unit in January 2022, succeeding former CEO Bob Chapek, who became the chairman of Disney Parks, Experiences and Products.

Under Paull's leadership, Disney+ became one of the fastest-growing and most successful streaming services in the world, reaching over 200 million subscribers in less than two years. Paull also oversaw the expansion of Hulu, which added more than 10 million subscribers in 2022 and became profitable for the first time. Paull also launched ESPN+, a sports streaming service that reached over 20 million subscribers, and Star, an international streaming service that offers content from Disney's various studios and brands.

Paull will be replaced by Joe Earley, the current president of Hulu, who will take over as the president of streaming for Disney Entertainment. Earley is a veteran media executive who joined Disney in 2019 from Fox, where he held various roles including chief operating officer of Fox Television Group. Earley helped launch Disney+ in November 2019 and has been leading Hulu since December 2020.

In his new role, Earley will work to expand Disney's streaming efforts across Disney+ and Hulu, as well as collaborate with other content leaders within Disney to create and deliver high-quality and diverse content for global audiences. Earley will report directly to Iger, who remains the executive chairman and chief creative officer of Disney.

Disney said that Paull will stay with the company until June 2023 to ensure a smooth transition. The company did not disclose the reason for Paull's exit or his future plans. In a statement, Iger thanked Paull for his contributions and praised Earley for his vision and leadership.

"Michael has been a key architect of our streaming strategy and a driving force behind our success in this space. He has built a talented and dedicated team that has delivered exceptional results and positioned us for continued growth and innovation. We are grateful for his leadership and wish him all the best," Iger said.

"Joe is an outstanding leader who has proven his ability to launch and grow streaming services while creating compelling and engaging content for diverse audiences. He has a deep understanding of our brands and franchises, as well as a strong relationship with our creative teams. I am confident that he will take our streaming business to new heights," Iger added.