Former chairman to pursue "other ambitions" after over 11 years with the firm.
Andy Mooney has resigned from his post as chairman of Disney Consumer Products, after almost 12 years with the company.
Mooney joined the firm as president in 1999 and was promoted to chairman in 2003. Prior to DCP, he was at Nike.
In an email sent to DCP employees yesterday, Mooney said: "After 30 years contributing to the success of two of the world's most valuable brands in Disney and Nike, I believe this is the perfect time to take that experience into a leadership role with another organisation and corporate boards.
"It has been a tremendous honor to have worked for a company like Disney for more than 11 years and for a leader like Bob [Iger]. But what I will miss the most and what I will always treasure is the experience to have worked with such a talented group of people at DCP.
"Together, we have radically changed the licensing business, created new brands and franchises like Disney Princess and Disney Fairies, creatively re-energised the Disney Store chain and launched new businesses like Disney English. All of this has resulted in year upon year growth and doubling of our creative output."
Robert Iger, president and CEO of The Walt Disney Company, added: "The contributions that Andy has made to Disney have been enormous. Not only has he consistently delivered business results year after year, but his focus on the Disney brand and the creation of new franchises like Disney Princess will leave a legacy for decades. I wish him nothing but best wishes and am confident that he will continue to contribute greatly to the creative and business worlds."