How many chiefs can one company have?
At least three, judging by the changes at Marvel Entertainment.
The company last week announced the promotion of two execs, David Maisel and John Turitzin, to the “office of the chief executive.”
Let’s hope it’s a big office. They’ll be sharing it with the current CEO, Isaac Perlmutter, who retains his title, though duties will now be split up differently.
Maisel will oversee interactive and the nascent studio; Turitzin will focus on publishing. Perlmutter will hold the vague portfolio of “corporate initiatives.” Maisel and Turitzin now get cited in press releases as “executive vice president, office of the chief executive.”
For Marvel, the balance is delicate. Perlmutter owns more than 30% of firm’s stock according to recent filings but has a low public profile. Marvel may have wanted to shuffle responsibilities without panicking Wall Street; the last time it made a big exec change — when Avi Arad stepped down as head of the studio in June — the stock plummeted.
This time, linguists may have balked at the arcane “office” title, but investors didn’t: Marvel’s stock rose after the announcement.