Walt Disney Co. announced Friday it would reorganize its strategic planning division by giving more duties to the division chiefs and reducing its strategic team.

Peter Murphy, chief strategic officer, will resign his current office to become a senior adviser to CEO-elect Robert Iger.

The move is the first major action in the global media company since President and Chief Operating Officer Iger was announced earlier this month to replace Chief Executive Michael Eisner by Oct. 1.

"Peter’s vast contributions during his tenure at Disney, particularly his leadership role in the acquisition of Capital Cities/ABC, helped transform Disney into a market-leading global media company," Iger said. "His extensive experience and knowledge of our businesses, technology and strategy will continue to benefit The Walt Disney Co."

The recent reshuffle caused changes in stock as Disney’s shares fell 3 cents to $27.75 on Thursday.