Sean Bailey, the longtime Walt Disney Co. government who oversaw the studio’s live-action motion pictures, is stepping down, the Burbank-based leisure big introduced Monday.

David Greenbaum has been appointed to the newly created position of president of Disney reside motion and twentieth Century Studios, and can oversee movie initiatives for each models spanning theatrical and streaming platforms. Bailey is exiting his place after 14 years on the helm.

The high-level change on the prime of Disney’s live-action movie unit has been rumored, notably after the rocky efficiency of some latest movies.

Throughout his tenure, Bailey oversaw a string of blockbuster live-action remakes, together with “The Little Mermaid,” “Aladdin,” “Lion King,” and “Magnificence and the Beast.” Most of these movies topped $1 billion worldwide in field workplace receipts, whereas final yr’s “The Little Mermaid,” raked in $560 million (it struggled in abroad markets).

However regardless of high-profile successes, Bailey’s division was behind final yr’s field workplace flop, “Haunted Mansion,” impressed by the vaunted Disneyland theme park trip.

Bailey’s contract was because of expire subsequent January, and it was reported that he had discussions with Netflix executives taking the highest movie job there. Whereas Bailey shouldn’t be anticipated to make the change to Netflix’s Sundown Boulevard-based campus, revelations of the talks prompted appreciable reflection by Bailey and Disney’s prime brass concerning the studio’s live-action movie technique and pipeline, in keeping with a educated one who was not approved to remark publicly.

Bailey, who wasn’t keen on extending his contract, will return to his roots as a producer of “Tron: Ares,” for Disney, the corporate mentioned in its assertion.

The brand new chief, Greenbaum, most just lately served as president of Searchlight Photos, the place he collectively managed the studio’s movie and TV initiatives with Matthew Greenfield, who will proceed in his position as Searchlight Photos president. Disney acquired the specialty label as a part of its $71.3-billion buy of twenty first Century Fox properties from Rupert Murdoch almost 5 years in the past.

Searchlight has had loads of awards success, and Greenbaum helped information dozens of characteristic movies, together with Academy Awards winners “The Form of Water” and “Nomadland,” to the massive display screen. He was additionally concerned in shepherding Yorgos Lanthimos’ “Poor Issues,” which presently is nominated for a greatest image Oscar. Greenbaum was additionally concerned within the making of previous standouts akin to “The Menu,” “The Favorite,” “The Grand Budapest Lodge” and “Black Swan.”

Earlier than becoming a member of Searchlight greater than a decade in the past, Greenbaum was a improvement government at Miramax Movies.

“David has an unimaginable artistic sensibility and eye for movie, and he has constructed a status as an distinctive chief and artistic government, as confirmed by his observe report at Searchlight Photos and deep relationships all through the business,” mentioned Alan Bergman, co-chairman of Disney Leisure, in a press release.

“I’m thrilled that he’ll be taking over this new and essential position. We’ve had the good fortune to have a powerful artistic chief in Steve Asbell at twentieth Century, and I’m excited for him to work intently with David as we take a extra strategic look throughout each manufacturers from a artistic and operational standpoint. I additionally wish to thank Sean Bailey for his many contributions and management over his tenure at Disney.”

Bailey, in a press release, mentioned it was a very good time to maneuver on and wished Disney Chief Government Bob Iger, Bergman and others “the easiest for a shiny future.”

“These 15 years at Disney have been an unimaginable journey, however the time is correct for a brand new chapter,” Bailey mentioned. “I’m deeply grateful to my distinctive staff and happy with the slate and historical past we’ve constructed collectively. I joined Disney whereas producing Tron: Legacy, so it appears becoming that I’ll have the chance to work on the newest Tron as I depart.”

Netflix has not named a substitute for its movie chief, Scott Stuber, who final month introduced his departure from the streamer. A Netflix spokesperson wasn’t instantly out there for remark.

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