The Walt Disney Company is realigning its consumer products and interactive divisions, combining the two into a new business segment: Disney Consumer Products and Interactive Media. Leslie Ferraro, co-chair, DCPI, and president, DCP, and Jimmy Pitaro, co-chair, DCPI, and president, Disney Interactive, will run Disney Consumer Products and Interactive Media jointly.

The new structure is designed to share technological expertise and maximize opportunities and efficiencies across two divisions that have increasingly become focused on similar objectives of delivering consumer experiences and products. In addition, the change will more effectively leverage Disney’s licensing structure and retail relationships across both segments.

“Both Disney Interactive and Disney Consumer Products have a strong track record of connecting people to their favorite stories and characters,” says Tom Staggs, chief operating officer, The Walt Disney Company. “As technology and digital entertainment continue to evolve, a shared innovation strategy will enable this new segment to create unique and engaging products and experiences that exceed consumers’ expectations.”

A newly created team–DCPI Labs–will focus on using new technologies to create immersive products and will report jointly to Ferraro and Pitaro. Disney Publishing Worldwide will also report jointly to the senior leaders, as will functional areas including finance, strategy and business development, technology, human resources and communications.

The traditional consumer products portfolio–product development, licensing, retail relationship management and more–will continue under Ferraro; while Pitaro will continue to manage social and mobile games, Asia games, online media and sales and Disney Infinity.

“The timing of this announcement could not be better, with both divisions seeing great success in the marketplace with technology-driven initiatives alongside our more traditional lines of business,” says Ferraro.

“We are looking forward to leveraging Disney Interactive's digital, technological and mobile expertise to explore the unlimited possibilities that this partnership represents,” says Pitaro.