Disney's Head of Consumer Products Resigns
Andrew Mooney, credited for creating the Princess and Fairies franchises, will leave to pursue a leadership at another organization.
Andrew Mooney said Tuesday he will resign as head of Disney’s small but fast-growing consumer products business to pursue a leadership role with another organization and on corporate boards.
Mooney joined Disney as president of consumer products in 1999 after a couple of decades with Nike and became the unit’s chairman in 2003. He’s credited with creating the Disney Princess and Disney Fairies franchises.
In the most recent quarter Disney’s consumer products segment posted an operating profit of $155 million, up 32 percent from the year-ago quarter, on a 13 percent revenue gain to $685 million.
“Together we have radically changed the licensing business,” Mooney wrote in a letter to his employees.
“The contributions that Andy has made to Disney have been enormous,” said Disney president and CEO Robert Iger. “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.”