Business, Economics and Jobs

Disney head Rich Ross resigns after John Carter movie tanks at the box office


Walt Disney Studios President Rich Ross, attends the star unveiling ceremony for The Muppets on March 20, 2012 in Hollywood, California.


Frazer Harrison

Rich Ross resigned as chairman of Walt Disney Studios a month after the release of the film "John Carter," a major box office flop for the studio.

The New York Times reported the announcement ends a two-and-a-half years which saw more "misses than hits" and comes after Robert A. Iger, Disney’s chief executive, became convinced Ross had lost the confidence studio’s employees and partners, which include Jerry Bruckheimer and Steven Spielberg’s DreamWorks Studios.

A 15-year Disney veteran wrote in an email "I no longer believe that the chairman role is the right professional fit for me," according to the BBC.

He became chairman in 2009 and was previously president of the Disney Channel.

Ross was responsible for overseeing the production of the science-fiction film "John Carter," which eventually cost more than $250 million.

Reuters reported Disney said expected the film to lose about $200 million which would end up costing the studio $80 million to $120 million in operating losses.

More from GlobalPost: Director James Cameron first to reach Earth's deepest point