Disney’s Studio Chief Rich Ross Resigns After ‘John Carter’ Flop

Disney announced last month that it lost more than $200 million from the epic sci-fi flick John Carter and now Rich Ross is stepping down as the chairman of the studio.

Ross said in a statement:

“I no longer believe the chairman role is the right professional fit for me. For that reason, I have made the very difficult decision to step down as chairman of the Walt Disney Studios, effective today.”

Ross has been with Disney for years but has only been the chairman of the studio since 2009. The Washington Post reports that Ross was hired by Disney CEO Bob Iger and given the task of trimming the budget. Ross cut expensive films like 20,000 Leagues Under the Sea and Wild Hogs 2 but was also responsible for some failures like Prince of Persia and John Carter.

Iger, however, had nothing but praise for Ross. Iger said:

“For more than a decade, Rich Ross’s creative instincts, business acumen and personal integrity have driven results in key businesses for Disney, redefining success in kids and family entertainment and launching franchises that generate value across our entire company. His vision and leadership opened doors for Disney around the world, making our brand part of daily life for millions of people. I appreciate his countless contributions throughout his entire career at Disney and expect he will have tremendous success in whatever he chooses to do next.”

Before he resigned Ross greenlighted two other big studio movies. Sam Raimi’s Oz: The Great and Powerful and Johnny Depp’s The Lone Ranger.

Disney has not named a successor for Ross.