Entertainment

Rich Ross, Walt Disney Studios chairman, steps down

April 20, 2012 / 1:47 PM EDT / CBS/AP

Rich Ross attends the star unveiling ceremony for "The Muppets," who were honored with 2,466th star on the Hollywood Walk of Fame, on March 20, 2012, in Hollywood, Calif. Getty

(CBS/AP) LOS ANGELES - Rich Ross, the chairman of Walt Disney Studios, is stepping down, a month after the family entertainment giant booked a huge loss on the sci-fi epic "John Carter."

"I believe in our strong slate of films and our ability to make and market them better than anyone else," he said in an email, according to the New York Times. "But, I no longer believe the chairman role is the right professional fit for me."

Ross took over for then-studio chairman Dick Cook two and a half years ago.

His departure comes after Disney booked a $200 million loss on "John Carter," based on the Edgar Rice Burroughs book series. The loss will pull the entire studio into a loss of $80 million to $120 million in the quarter through March.

The Walt Disney Co. did not name a successor.