The Walt Disney Company announced on March 14, 2018, that the company will be undergoing a strategic organization of their various businesses, effective immediately. The changes will be dividing the company into four distinct segments.

One of these four is the newly-formed Direct-to-Consumer and International segment, which will serve as a global multiplatform organization for Disney’s Studio Entertainment and Media Networks groups. This segment is comprised of Disney’s various international businesses as well as the upcoming Disney-branded direct-to-consumer streaming service. It will be headed by Kevin Mayer, who has serviced as Disney’s Chief Strategy Officer since 2015.

There will also be the Parks, Experiences and Consumer Products segment, which will be focused on the various Disney-branded theme parks, global consumer products, the e-commerce platform of ShopDisney, and various other character-related experiences. The Chairman of Walt Disney Parks and Resorts, Bob Chapek, will be assuming the additional responsibility of this segment.

“Having worked with the exceptional teams at both Parks and Resorts and Consumer Products, I know this combination of incredible skills and resources will lead to a whole host of new creative ideas for high-quality products and experiences to delight our guests,” Chapek said.

The Media Networks segment will be virtually the same as it has been in the past, and will be responsible for various Disney-owned networks such as ABC and ESPN. It is co-chaired by Ben Sherwood, President of Disney-ABC Television Group, and James Pitaro, President of ESPN.

Finally, the Studio Entertainment segment will also be remaining largely the same, with the exception of how some things (such as management of program sales) will be moved to the Direct-to-Consumer/International segment. It will be headed by Alan F. Horn, Chairman of Walt Disney Studios, and is responsible for Walt Disney Animation Studios, Disney Live Action, Pixar Animation, Marvel Studios, and LucasFilm, among others.

“We are strategically positioning our businesses for the future, creating a more effective, global framework to serve consumers worldwide, increase growth, and maximize shareholder value,” Walt Disney CEO Robert A. Iger said in a statement. “With our unparalleled Studio and Media Networks serving as content engines for the Company, we are combining the management of our direct-to-consumer distribution platforms, technology and international operations to deliver the entertainment and sports content consumers around the world want most, with more choice, personalization and convenience than ever before.”