Disney's Head of Consumer Products Resigns

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.

our editor recommends

Disney Taps Kathryn Kranhold as SVP, Corporate Communications

'Avengers,' 'John Carter,' 'Brave': The 5 Coolest Presentations at Disney's D23 Expo

STORY: Disney Faces Post-Steve Jobs Future

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.

PHOTOS: Disney Generation's new Rising Stars

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.

STORY: Disney Announces Two New Pixar Projects

“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.”