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No fairytale ending for Rich Ross as Disney film studio chief

The Muppets Honored On The Hollywood Walk Of Fame

Frazer Harrison/Getty Images

Walt Disney Studios President Rich Ross, (L) attends the Hollywood Walk of Fame star unveiling for The Muppets on March 20, 2012. Ross will be stepping down as Chairman, it was recently announced.

It is not happily ever after for Rich Ross, who announced that after two years at the Walt Disney Co's movie studio, he will be stepping down as Chairman.

His exit follows the interplanetary adventure offering "John Carter," which burned up in release. With a ballooning budget, the film was one of the biggest financial fiascos in recent Hollywood history -- costs swelled to more than $250 million.

Never quite able to turn loose a monster franchise like "High School Musical" and "Hannah Montana," which built his reputation as president of the Disney Channel, Ross remarked in an email to his staff, "I no longer believe that the Chairman role is the right professional fit for me," reports Reuters.

Only weeks before his departure, Ross hosted a hoity Hollywood premiere for the big-budget film "The Avengers," a special effects flick that is part of Disney's Marvel subsidiary and poised to be one of the summer's biggest draws.