Walt Disney

(DIS) - Get Report

said Sanford Litvack will resign as vice chairman at the end of the year to pursue other opportunities.

Litvack, who joined Disney in early 1991 as senior vice president and general counsel, will take on a part-time executive role at the company and will continue to serve on the supervisory board of Euro Disney.

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Shares of Disney were recently down 75 cents, or 1.8%, to $39.56 on the

New York Stock Exchange

.