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Source: Disney

Disney’s president of motion picture studios Sean Bailey has departed the company and will be replaced by Searchlight Pictures co-president David Greenbaum.

Bailey had been at the studio for 15 years and is credited as the architect behind the lucrative business of turning animated classics from the vault into live-action hits like The Lion King, Beauty And The Beast and The Jungle Book – all of which grossed more than $1bn worldwide.

Greenbaum, who has run Searchlight alongside Matthew Greenfield, becomes president, Disney live-action and 20th Century Studios, reporting to Disney Entertainment co-chairman Alan Bergman.

Greenbaum will lead a combined studio group producing original and legacy projects for theatrical and streaming.

Steve Asbell remains president of 20th Century Studios reporting to Greenbaum, while Greenfield becomes sole president of Searchlight Pictures.

In recent weeks the Hollywood grapevine has speculated Bailey may take over from Scott Stuber as chairman of film at Netflix when the latter steps down in March to launch his new venture. However reports said that may no longer be the case.

The Disney and 20th Century Studios pipeline includes 20th Century’s The First Omen on April 5, Kingdom Of The Planet Of The Apes on May 10, and Alien: Romulus on August 16; Disney’s Young Woman And The Sea on May 31 and Mufasa: The Lion King on December 20.

The studios are in development or production on Snow White, Tron: Ares, Moana, Lilo & Stitch, a new Predator film, and upcoming Avatar films, among others.