Hulu CEO Randy Freer is stepping down as Disney takes greater control of the streaming company

Hollis Johnson/Business Insider

Randy Freer.

• Hulu CEO Randy Freer is set to exit the streaming company, Disney announced on Friday
• The streaming company's leadership will report to execs within Disney's direct-to-consumer and international business, as part of the reorganization.
• Visit Business Insider's homepage for more stories.

Hulu CEO Randy Freer is stepping down from the streaming company as Disney brings Hulu deeper into its streaming segment, Disney announced on Friday.

Hulu's leaders will report directly to execs within Disney's direct-to-consumer and international business, as part of the reorganization.

"I want to thank Randy for his leadership the last two years as CEO and for his collaboration the past several months to ensure an exceptionally bright future for Hulu," Kevin Mayer, Disney's head of direct-to-consumer and international, said in a statement. "With the successful launch of Disney+, we are now focused on the benefits of scale within and across our portfolio of DTC businesses. Further integrating the immensely talented Hulu team into our organization will allow us to more effectively and efficiently deploy resources, rapidly grow our presence outside the U.S. and continue to relentlessly innovate. There is a tremendous amount of opportunity ahead, and I am confident in our ability to accelerate our positive momentum and better serve consumers."

"I am grateful for my time at Hulu, and the opportunity to work and learn with an incredibly talented and dedicated group of people," Freer said in a statement. "I also want to thank Kevin and The Walt Disney Company, as well as NBCUniversal and Fox, for providing me the opportunity to lead Hulu during a time of tremendous growth and significant industry transformation. Hulu has established itself as a leading choice for consumers looking for the best TV service available today, and I am confident Hulu will thrive inside Disney under DTCI's leadership and resources."

Freer will remain in his role for the next several weeks to help with the transition.

This story is developing...

NOW WATCH: Camel milk can cost $30 a litre. Why is it so expensive?