The Walt Disney Company announced a strategic reorganization of its businesses into four segments: the newly-formed Direct-to-Consumer and International; the combined Parks, Experiences and Consumer Products; Media Networks; and Studio Entertainment. The reorganization is effective immediately. Kevin Mayer, who has served as Disney's Chief Strategy Officer since 2015, has been named Chairman of the new Direct-to-Consumer and International business segment. Bob Chapek, Chairman, Walt Disney Parks and Resorts, will assume additional responsibility for all of Disney's consumer products operations globally, including licensing and Disney stores, as Chairman of the new Parks, Experiences and Consumer Products business segment. The Disney Media Networks business segment is co-chaired by Ben Sherwood, President, Disney|ABC Television Group, and James Pitaro, who was recently named President of ESPN and previously served as Chairman, Disney Consumer Products and Interactive Media. The Media Networks segment will remain virtually the same. The Studio Entertainment business segment is led by Alan F. Horn, Chairman, The Walt Disney Studios, and remains virtually the same, with the exception of the management of program sales moving to the Direct-to-Consumer and International business segment.