Big news for the Mouse House. Longtime Walt Disney Studios president Sean Bailey is departing the studio. Bailey, who has been in the position for 15 years, is leaving effective immediately. David Greenbaum, the co-head of Searchlight Pictures, is taking over. And not only is he taking over Disney Studios, but 20th Century Studios as well.
READ MORE: PGA, Spirit and SAG Awards spark final Oscar voting weekend
In a statement, Disney Entertainment Co-Chairman Alan Bergman noted, “David has an incredible creative sensibility and eye for film, and he has built a reputation as an exceptional leader and creative executive, as proven by his track record at Searchlight Pictures and deep relationships throughout the industry. I’m thrilled that he’ll be taking on this new and important role.”
Bailey initially took the job after producing “Tron: Legacy” in 2010. He’ll now depart segueing to a producer on the already in production “Tron: Ares.” His legacy includes a long list of massive live-action animated adaptations for the studio including “The Lion King,” “Beauty and the Beast,” “Aladdin,” “The Jungle Book,” “Alice in Wonderland,” and “Maleficent,” among others.
More recently, however, Bailey’s magic touch has started to fade. “The Little Mermaid” was seen as a disappointment taking in just $569 million off a reported $250 million budget and “Haunted Mansion” was a bomb earning just $117 million with a $150 million budget. The next films under his former watch include Barry Jenkins’ “Mufasa: The Lion King,” and the now multi-delayed “Snow White” starring Rachel Zegler which is now scheduled for a March 2025 release.
Under his guidance, Walt Disney Studios also had a bumpy ride providing original films for Disney+. For every breakout such as the massive hit, “Hocus Pocus 2,” there were costly misfires such as “Lady and the Tramp” and Robert Zemeckis’ “Pinocchio.”
On Bailey’s tenure, Berman added, “Sean has been an incredibly important member of the Studio’s creative team for well over a decade. He and his team have brought to the screen iconic stories and moments that have delighted fans around the world and will stand the test of time. I know he’ll continue to do great things.”
Bailey remarked, “These 15 years at Disney have been an incredible journey, but the time is right for a new chapter. I’m deeply grateful to my exceptional team and proud of the slate and history we’ve built together. I joined Disney while producing ‘Tron: Legacy,’ so it seems fitting that I will have the opportunity to work on the latest ‘Tron’ as I depart.”
Greenbaum has worked at Searchlight for over 15 years and has been co-president of the division alongside Matt Greenfield since 2021 when Steven Gilula and Nancey Utley retired. He’s known for his strong relationships with filmmakers such as Guillermo Del Toro, Taika Waititi, Yorgos Lanthimos, and Park Chan-wook. Along with Greenfield, they have seen “Nomadland” win Best Picture in 2021, “The Banshees of Inisherin” earn $52 million worldwide, and “Poor Things” should cross the $100 million mark globally tomorrow.
On Greenbaum, Bergman remarked, “David has an incredible creative sensibility and eye for film, and he has built a reputation as an exceptional leader and creative executive, as proven by his track record at Searchlight Pictures and deep relationships throughout the industry. I’m thrilled that he’ll be taking on this new and important role. We’ve had the great fortune to have a strong creative leader in Steve Asbell at 20th Century, and I’m excited for him to work closely with David as we take a more strategic look across both brands from a creative and operational standpoint. I also want to thank Sean Bailey for his many contributions and leadership over his tenure at Disney. Searchlight remains in excellent hands under the guidance of Matthew Greenfield.”
Matt Greenfield will now reportedly run Searchlight solo reporting solely to Bergman.
Said Greenbaum: “I want to thank Bob Iger and Alan Bergman for the extraordinary opportunity to continue the legacy of fabled and groundbreaking storytelling at both Disney and 20th Century – it’s an honor and responsibility I don’t take lightly, and I’m eager to get to work with Steve Asbell and the teams. At the same time, the last 14 years working alongside and in partnership with my dear friend and colleague Matthew Greenfield have been unforgettable – Searchlight and the incredible team there remain the gold standard for quality in our business, and I look forward to watching their continued success in the years to come.”
Bailey has been rumored to be in the mix for the top film job at Netflix that will soon be vacated with Scott Stuber’s imminent departure, but reports indicate that is (currently) not the case.
