Not mentioning his rocky tenure at the film studio, Ross said through a press statement, "For the last 15 years, I have had the opportunity to work with incredibly talented people on behalf of the world’s best loved brand. But, the best people need to be in the right jobs; in roles they are passionate about, doing work that leverages the full range of their abilities. I no longer believe the chairman role is the right professional fit for me. For that reason, I have made the very difficult decision to step down as chairman of The Walt Disney Studios, effective today."

Disney CEO Bob Iger appreciated Ross, saying: "For more than a decade, Rich Ross’s creative instincts, business acumen and personal integrity have driven results in key businesses for Disney.”

The well strategized sci-fi fantasy film ‘John Carter’ made by Oscar-winning director Andrew Stanton, starring Taylor Kitsch and Willem Dafoe, about a Civil War veteran transplanted to Mars, was a huge box-office failure.