Walt Disney Company (NYSE:DIS) shares are trading lower on Wednesday.
Lisa Valentino, a senior executive at Disney Advertising Sales responsible for numerous digital initiatives, has reportedly departed from the company.
Valentino’s departure coincides with Disney’s ongoing “upfront” negotiations with advertisers, as reported by Variety.
Valentino, in her second tenure at Disney, served as Executive Vice President of Category Sales and Client Solutions before departing, the report read.
Previously, Valentino had promoted Disney’s key ad-tech advancements to clients, focusing on audience measurement methodologies and precision targeting through “addressable” formats, Variety added.
Walt Disney was recently in the headlines as Pixar Animation Studios started implementing the layoffs reported months ago, releasing approximately 175 staff members.
These cuts primarily stem from Disney+ reducing its production of direct-to-consumer series. Since his return in November 2022, CEO Bob Iger has advocated for a more disciplined approach to streaming.
Earlier this month, Disney CEO Bob Iger announced plans to cut marketing expenses for Disney+ at the MoffettNathanson investment conference.
Iger also briefly touched on the company’s parks business, noting that he expects it to “grow nicely” over the long term.
The Disney CEO reportedly reiterated that the double-digit growth seen in the company’s parks business in recent years is not expected to last.
Price Action: DIS shares are trading lower by 1.21% to $101.20 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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