Andy Mooney, Disney’s Chairman of consumer products division, resigned Tuesday to pursue leadership roles with other companies. The man who is credited with the creation of the wildly popular Disney Princess franchise had been with Disney for nearly 12 years. The move was seen as a surprise to industry watchers and Disney employees. Mooney stated his reasons for leaving, as well as his fondness for the company, in an email to employees:
It’s never easy to leave a place you love, but today I informed Bob Iger that I’ve made the difficult decision to resign as Chairman of Disney Consumer Products. After 30 years contributing to the success of two of the world’s most valuable brands in Disney and Nike, I believe this is the perfect time to take that experience into a leadership role with another organization and corporate boards.
It has been a tremendous honor to have worked for a company like Disney for more than 11 years and for a leader like Bob. But what I will miss the most and what I will always treasure is the experience to have worked with such a talented group of people at DCP.
Together, we have radically changed the licensing business, created new brands and franchises like Disney Princess and Disney Fairies, creatively re-energized the Disney Store chain and launched new businesses like Disney English. All of this has resulted in year upon year growth and doubling of our creative output.
I’m proud and grateful to have had the honor of calling each one of you a colleague and am confident that DCP is well-positioned to continue this momentum for many years.
I thank Bob for his understanding in my desire to pursue other ambitions as well as his guidance and friendship over the last 11 years.
Bob Iger had equally nice words for Mooney:
The contributions that Andy has made to Disney have been enormous.. Not only has he consistently delivered business results year after year, but his focus on the Disney brand and the creation of new franchises like Disney Princess will leave a legacy for decades. I wish him nothing but best wishes and am confident that he will continue to contribute greatly to the creative and business worlds.
Mooney, 55, came to Disney from Nike, where he had spent 20 years, and had risen to chief market officer. Sources say that he’s leaving Disney with an eye on running his own business, as well as opportunities to serve on corporate boards, a position that Disney doesn’t permit its executives to pursue.
Consumer Products is Disney’s second fastest growing segment, accounting for just over six percent of the company’s total revenue for the quarter that ended in July.
Mooney plans to stay at Disney through the end of the month, which will mark the end of the company’s current fiscal year.
