On Wednesday, January 12, 2000, The Walt Disney Co. announced that Joe
Roth, their movie studio chairman, was resigning to form an independent
film company. He will be replaced by studio president Peter Schneider. Roth
assumed the chairman position in August 1994 after the departure of veteran
Disney executive Jeffrey Katzenberg. During his tenure, Roth helped Disney
lead rivals at the U.S. box office in terms of market share, with help from
such hits as THE SIXTH SENSE and TOY STORY 2. Shortly following the news of
Roth's resignation, Disney shares were off 2-10/16 at 33-11/16. Roth's
successor, Schneider, joined the company in 1985 as a vice president of
feature animation finally becoming president of Disney's feature animation
and stage play production groups. Schneider was involved in some of
Disney's biggest animated hits like THE LION KING and BEAUTY AND THE BEAST,
while also heading the development of stage plays based on those movies. In
January 1999, he was promoted to president of Walt Disney Studios. Chairman
Michael Eisner told Reuters, "The fact of the matter is Peter Schneider is
a totally proven creative executive."
Rick DeMott
Animation World Network
Creator of Rick's Flicks Picks
