The longtime director of Disney Movies is stepping down

Sean Bailey, former president of Walt Disney Studios Motion Picture Production, has decided to resign, under pressure from investors to reverse Disney’s cold streak.

Mr. Bailey’s departure was described by two Disney executives. They said he would not be joining Netflix, despite meeting with the streaming company’s leaders to discuss the possibility. Instead, at least in the short term, he’ll be producing a new “Tron” movie for Disney.

David Greenbaum, co-president of Searchlight Pictures, will take over from Mr. Bailey. Mr. Greenbaum has co-led the Searchlight division with Matthew Greenfield since 2021. Searchlight is best known for Oscar-winning prestige films such as ‘Slumdog Millionaire’ and ’12 Years a Slave’.

Mr. Bailey has been production president at Disney for 14 years — an eternity in Hollywood, where movie chiefs are often jettisoned every few years. At the time, Disney was rocked by executive layoffs, restructuring efforts and changing film distribution strategies. The steadfast Mr. Bailey, who is popular with stars and their agents, has contributed to the stability.

His hits included the live-action “Aladdin,” which grossed $1.1 billion at the box office. A photorealistic ‘The Lion King’ grossed $1.7 billion. A live-action “Beauty and the Beast” grossed $1.3 billion.

More recently, Mr. Bailey – along with other Disney studios, including Marvel – has struggled to find new hits. His remake of “The Little Mermaid,” which cost an estimated $375 million to make and market, has grossed about $570 million worldwide after its release last spring; Disney had hoped for closer to $1 billion. ‘The Haunted Mansion’, overseen by Mr Bailey, was bombed in July.

Nicole Sperling reporting contributed.