Associated Press
After being terminated as Chairman of Disney’s subsidiary Marvel Entertainment, Ike Perlmutter finally shares his side of the story in an interview with The Wall Street Journal.
Related: MCU President Abandons Post, Leaves Marvel Studios After 17 Years
Perlmutter was let go last week as part of Disney’s company-wide round of layoffs that will ultimately end with 7,000 employees being let go. When the first handful of executives were fired, it was obvious that one’s job was safe. And while Perlmutter no longer works under Disney, that doesn’t mean he no longer has a stake in the game. The former Chairman is actually still a Disney shareholder, with roughly 30 million shares. As one of the largest shareholders, it’s no wonder Perlmutter was the type of executive who was constantly disagreeing on how the studio spent its money.
Although Perlmutter was a Chairman at Marvel Entertainment, he was never a fan of superhero movies. He believed they were too long and too expensive. Presumably, Perlmutter was thinking less like a creative and more like a shareholder. This caused friction between him and the company.
“I have no doubt that my termination was based on fundamental differences in business between my thinking and Disney leadership, because I care about return on investment,” Mr. Perlmutter said.
Perlmutter is a money man, focusing more on profits and less on the creative process. Creative was Kevin Feige’s role, and Perlmutter butted heads with him often. “I learned one thing about creative people my whole life: You cannot give them an open credit card,” he said.
Overall, Perlmutter seems to believe the creative overruled the business side of things, which led to his termination. The former Chairman said he mentioned his concerns about over-spending to former Disney CEO Bob Chapek, who in return told him he did not have the ability to change the spending plans.
“There was no way to force the issue because the creative people at the Walt Disney Company are very powerful,” Mr. Perlmutter said.
Related: Marvel Called Out for Not Letting Their Directors Do Their Jobs
Perlmutter, a well-known Trump supporter, also openly agreed with Florida Governor Ron DeSantis. In the interview, he mentions a conversation he had with DeSantis on the phone last year. “Ron, you’re right. Disney doesn’t have the right to get involved with politics,” he said. It is unclear if this was another reason why he was let go, but it doesn’t make Perlmutter look like a team player in Disney’s eyes.
Even though Ike Perlmutter no longer works for the company, he is still heavily invested in Disney. It’s hard to predict if he will still be able to influence the company, but one thing is certain; he will want a return on his investment, or else he just might have to sell those shares worth about $3 billion.
Do you agree with Ike Perlmutter when it comes to creative overruling profits? Let us know in the comments.