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Marvel Head Honcho Ike Perlmutter Claps Back After Disney Firing, Says It Wasn’t A Shock

Last month the Walt Disney Company announced it was planning a significant layoff within the company as part of a significant cost savings plan. Due to the fact that Disney is trying to reduce costs by billions of dollars, the people laid off in what was only the first of three rounds of layoffs were those with more significant positions. And one assumed they had hefty salaries as well. The most shocking surprise was that Ike Perlmutter, the head of Marvel Entertainment and the one who sold the company to Disney, is now also out of a job. But he says he wasn’t laid off, he was fired.

The relationship between Ike Perlmutter, the single largest Disney shareholder, and Disney the company (specifically CEO Bob Iger) has been a tenuous one for some time. Having said that, Perlmutter was still around, so it was a bit of a shock when it was announced that he was leaving the company. For his part, Perlmutter tells the Wall Street Journal that he fully expected to be gone at some point. He explained…

I have long expected that my working relationship with Disney would end. That it should come as a result of my trying to help Disney improve its business should sadden many shareholders as it does me, the company’s largest individual shareholder. Despite my employment termination, I will continue to hold my shares of Disney and continue to seek improvements at the company for the benefit of all stakeholders.