Personal History
Overview[]
Isaac "Ike" Perlmutter is an israeli businessman who has owned and worked for multiple incarnations of Marvel Entertainment since 1990, and currently serves as its Chairman.[1]
Early Life[]
Born to a Jewish family in the British Mandate of Palestine, Isaac Perlmutter served in the Israeli Army in 1967, during the Six-Day War, later emigrating to the United States of America. Arriving in New York City with only $250,[2] he grew up to become one of the most recognised american businessmen, acquiring controlling interests in corporations such as Revco, Coleco and Remington.[3]
Toy Biz[]
In 1990 Perlmutter purchased a toy manufacturing company, Toy Biz, Inc., previously incorporated on February 21, 1989[4] by its former parent company, Charan Industries. In 1990 Toy Biz obtained the master license to produce toys based on the Marvel Entertainment Group, Inc.'s characters, and in early 1993 Perlmutter and Marvel owner Ron Perelman entered into an agreement to have Toy Biz producing toys based on Marvel characters without paying royalties, with Marvel obtaining an ownership stake in Toy Biz.[5]
As part of the transaction, the original Toy Biz, Inc. was renamed Zib, Inc., becoming the holding company through which Perlmutter kept his controlling stake in the new Toy Biz, Inc., incorporated on March 18, 1993. Although Perlmutter and his associate Avi Arad, a fellow israeli businessman and toy designer, were the majority shareholders, Marvel Entertainment Group, Inc. controlled the voting stock, resulting in Marvel's decision to start an Intial Public Offering on March 2, 1995, making Toy Biz, Inc. a company traded on the New York Stock Exchange.[6]
Although he was replaced by Perelman as the Chairman of Toy Biz's Board of Directors on March 2, 1995, Perlmutter had always been very involved in the management of its business, having the company's President & Chief Executive Officer, Joseph Ahearn, reporting directly to him.[7] When Perelman declared the Chapter 11 Bankruptcy for Marvel Entertainment Group, Inc. and its subsidiaries, Perlmutter and Arad successfully won a corporate battle to take over the entertainment company, clashing against the Perelman group and Wall Street investor Carl Icahn.[8]
Marvel Enterprises[]
On October 1, 1998, Toy Biz, Inc. changed its name into Marvel Enterprises, Inc. after having ultimately acquired Marvel Entertainment Group, Inc. on the same date. Perlmutter and Arad continued to serve on the company's Board of Directors, and Arad was named Chief Creative Officer, Marvel Enterprises, Inc. and President & Chief Executive Officer of its Marvel Studios Division.[9]
Isaac Perlmutter was appointed Vice Chairman of Marvel Enterprises, Inc.'s Board of Directors on November 30, 2001,[10] and Chief Executive Officer effective January 1, 2005 replacing former President & Chief Executive Officer Allen Lipson.[11]
Marvel Entertainment[]
Marvel Enterprises, Inc. renamed itself Marvel Entertainment, Inc. on September 16, 2005, after successfully closing a deal to finance its own movie slate.[12]
Effective May 31, 2006, Perlmutter's longtime friend and associate Avi Arad resigned from his directorship at Marvel Entertainment's Board, as Chief Creative Officer of the company and as Chairman & Chief Executive Officer of the Marvel Studios, Inc. subsidiary to form his personal production company, Avi Arad Productions, continuing to serve as Creative Advisor to Marvel throughout 2006.[13]
On September 26, 2006 Perlmutter formed the "Office of the Chief Executive", promoting Executive Vice Presidents John Turitzin and David Maisel to Executive Vice President, Office of the Chief Executive. Turitzin, based in New York, was set to oversee the publishing and licensing operations, while Maisel continued to control Marvel Studios' operations on the West Coast.[14]
On March 23, 2009, Perlmutter became employed by Marvel Characters B.V., Marvel Entertaiment's licensing subsidiary incorporated in Netherlands, as a Senior Executive.[15]
The Walt Disney Company[]
On August 28, 2009 Perlmutter and the other Marvel stockholders agreed to sell Marvel Entertainment, Inc. to The Walt Disney Company.[16] The acquisition was ultimated on December 31, 2009, when Marvel Entertainment, Inc. merged with a subsidiary of Disney called Maverick Merger Sub, LLC., which was renamed Marvel Entertainment, LLC. after the procedure successfully closed.[17] The entity became an holding company and its former business were passed to its subsidiary Marvel Publishing, Inc., which was renamed Marvel Worldwide, Inc.;[18] Perlmutter was then named Chief Executive Officer of Marvel Worldwide, Inc. on December 31, 2009.[19][20]
Due to creative and managerial differences between President of Marvel Studios Kevin Feige and Ike Perlmutter, Disney Chairman & Chief Executive Officer Robert Iger had Feige and Marvel Studios reporting directly to Walt Disney Studios Chairman Alan Horn instead of Perlmutter and Committee Chairman Alan Fine, leading to the dissolution of Marvel Studios' Creative Committee on September 1, 2015. Perlmutter, however, remained in charge of TV, animation and publishing.[21]
On November 16, 2016 Marvel Brands LLC. was incorporated as a subsidiary of Marvel Characters, Inc..[22] Perlmutter was then named Chairman of the newly formed company,[23] although his official current title is Chairman, Marvel Entertainment.[24]
Following a corporate reorganization, Marvel Studios President Kevin Feige was named Chief Creative Officer of Marvel Entertainment on October 15, 2019 replacing Joe Quesada, whose title became Executive Vice President & Creative Director. Marvel Animation and Marvel Television, rebranded as Marvel TV Studios,[25] were moved under Marvel Studios' authority, while Marvel Entertainment's President, Dan Buckley, remained in charge of Marvel's publishing, games and brand management units, reporting to Feige over editorial-creative matters and to Perlmutter regarding publishing operations, sales, creative services, games, licensing and events.[26]
On March 29, 2023 Perlmutter, alongside longtime Chief Counsel John Turitzin and Co-President Robert Steffens, was laid off by Disney Chief Executive Officer Bob Iger as part of a cost-cutting program spearheaded by the company's senior management team.[27]Professional History
Toy Biz, Inc. / Zib, Inc.[]
- Owner - Since 1990
Toy Biz, Inc. / Marvel Enterprises, Inc. / Marvel Entertainment, Inc.[]
- Majority shareholder - From March 18, 1993 to December 31, 2009
- Member of the Board of Directors - From March 18, 1993 to December 31, 2009
- Chairman of the Board - From March 18, 1993 to March 2, 1995
- Vice Chairman of the Board - From November 30, 2001 to December 31, 2009
- Chief Executive Officer - From January 1, 2005 to December 31, 2009
- President & Chief Executive Officer, Marvel Characters, Inc. - From January 2007 to December 31, 2009[28]
- Senior Executive, Marvel Characters B.V. - From March 23, 2009 to December 31, 2009
Marvel Entertainment, LLC.[]
- Chief Executive Officer, Marvel Entertainment - From December 31, 2009 to November 16, 2016
- Chief Executive Officer, Marvel Publishing, Inc. - From December 31, 2009 to January 5, 2010
- Chief Executive Officer, Marvel Worldwide, Inc. - From January 5, 2010 to November 16, 2016
- Chairman, Marvel Entertainment - From November 16, 2016 to March 29, 2023
- Chairman, Marvel Brands LLC. - From November 16, 2016 to March 29, 2023
Notes
- According to a Variety article, a Marvel insider who prefers to remain anonymous admitted that “There is enormous internal confusion, Ike seems to be in a very weak position now.” following the October 2019 corporate reorganization which saw Kevin Feige taking over as Chief Creative Officer of Marvel Entertainment.
See Also
Links and References
References
- ↑ No, Marvel Chairman Ike Perlmutter Didn't Just Step Down Or Change His Title
- ↑ Isaac Perlmutter - The Man at the Head of the Comics World
- ↑ Isaac Perlmutter's Wikipedia Page
- ↑ Opencorporates: Zib, Inc.
- ↑ Toy Biz, Inc. History
- ↑ Toy Biz, Inc. - Annual Form 10-K for the Year 1996
- ↑ Toy Biz, Inc. - Annual Form 10-K for the Year 1996
- ↑ Dan Raviv, Comic Wars - Heroes Books, 2004
- ↑ Marvel Enterprises, Inc. - Annual 10-K Form for the Year 1998
- ↑ Marvel Enterprises, Inc. - Annual 10-K Form for the Year 2001
- ↑ Isaac Perlmutter's Employment Agreement
- ↑ Marvel Launches Independently Financed Film Slate With Closing of $525 Million Non-Recourse Credit Facility
- ↑ Avi Arad leaves MARVEL!
- ↑ Marvel Entertainment : David Maisel and John Turitzin Promoted as Marvel Entertainment Creates Office of the Chief Executive
- ↑ Isaac Perlmutter Employment Agreement Dated March 23, 2009
- ↑ Disney to Acquire Marvel Entertainment
- ↑ Marvel Entertainment, LLC.'s 8-K Form filed on January 06, 2010
- ↑ Florida's Division of Corporation - Foreign Profit Corporation Name Change Filing for Marvel Publishing, Inc., June 17, 2010
- ↑ Marvel Entertainment - Executive Officers; Archived on February 2, 2010
- ↑ Policies for Management of the Marvel Business
- ↑ Marvel Studios' Creative Committee has disbanded.
- ↑ Florida's Division of Corporation - Foreign Corporation Filing for Marvel Brands LLC.
- ↑ Florida's Division of Corporation - Annual Report filed on April 23, 2019 by Marvel Brands LLC.
- ↑ Marvel Remembers Stan Lee
- ↑ Marvel TV and Hulu Unveil Cast for Animated Series 'Marvel's M.O.D.O.K.'
- ↑ Kevin Feige Upped to Chief Creative Officer of Marvel
- ↑ Marvel Entertainment Chairman Ike Perlmutter Cut From Company
- ↑ Isaac Perlmutter's Businessweek Page