The Direct-to-Consumer and global division will be chaired by Kevin Mayer, who has been Disney's chief strategy officer since 2015. "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.
The restructuring marks a change for Hulu, which was previously reported as part of Disney's media networks segment as equity in the income of investees. Mayer has headed Disney's corporate strategy team since 2005, supervising the company's acquisitions of Pixar, Marvel, Lucasfilm and, most recently, 20 Century Fox.
Walt Disney Co. has restructured its business units, including folding consumer products into its theme park business. Management of global advertising sales for Disney's media properties-including ESPN, ABC, Freeform and the Disney Channels-will move from Media Networks to the new segment.
"With our unparalleled Studio and Media Networks serving as content engines for the company, we are combining the management of our direct-to- consumer distribution platforms, technology and worldwide operations to deliver the entertainment and sports content consumers around the world want most, with more choice, personalization and convenience than ever before", Iger said.