The New York Times has reported that longtime chairman of Marvel Entertainment Isaac “Ike” Perlmutter has been laid off amid Disney’s most recent round of lay-offs. Other high-ranking members of Marvel Entertainment, including Co-President Rob Steffens and chief counsel John Turtzin, were also let go. Moving forward, Dan Buckley, president of the division, will work under Kevin Feige.

Perlmutter was a prominent force behind the campaign to have investor Nelson Peltz join Disney’s board of directors. The push to seat Peltz is purported to be related to the decision by CEO Bob Iger to remove Perlmutter from the control of Marvel Studios. As a result, Marvel Entertainment’s scope became limited to merchandise and publishing Marvel comics. 

Perlmutter and business partner Avi Arad first acquired Marvel Entertainment after the comic-book collapse of the 1990s and proceeded to fold the company into their existing business Toy Biz. In 2009, Disney bought Marvel from Perlmutter for $4 billion, and, along with their purchase of the Star Wars franchise, went on to dominate the entertainment landscape during the 2010s. 

Marvel Entertainment, a separate entity from Marvel Studios, is set to be restructured into existing units within Disney. 

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