Disney Studio Chief Ross Steps Down !!

source: http://online.wsj.com/article/SB10001424052702303425504577355921676339392.html 

Rich Ross stepped down as chairman of Walt Disney Co.'s DIS +1.33% movie studios after less than three years on the job and a month after the company warned it would book a big loss on the film "John Carter."

Rich Ross, shown in March, stepped down as chairman of Walt Disney movie studio after less than three years on the job.

"I no longer believe the Chairman role is the right professional fit for me," he wrote in an email to employees. "For that reason, I have made the very difficult decision to step down as Chairman of The Walt Disney Studios, effective today."

Mr. Ross came to the movie studio job after a successful run heading the company's cable operation, the Disney Channel, which he helped reinvent with the creation of "tween"-oriented programs such as "Hannah Montana." 

But he failed to replicate that success at the movie studio, where he signed off on production of only a handful of new movies, and oversaw costly debacles including the recent release of "John Carter," a box office disaster. 

Disney has said it expects to lose $200 million on the film, which cost more than $250 million to make and an additional $100 million to market. As a result, the movie studio is expected to post an operating loss for the March ended quarter.

Mr. Ross's email didn't indicate that he was departing for another position. He had been with Disney for around 15 years. 

In a separate statement, Disney Chairman and Chief Executive Robert Iger thanked Mr. Ross for "his countless contributions throughout his entire career at Disney, and expect he will have tremendous success in whatever he chooses to do next."