During the 1980s, Ovitz had reigned as Hollywood's top talent agent. When he became chairman of the Creative Artists Agency, show business periodicals tagged him with the title of"Hollywood's most powerful man. In late 1995, Disney chief executive officer(CEO) Michael Eisner chose Ovitz to serve as his top lieutenant and gave him the title of company president. A little more than one year later, repeated personality clashes between the two Hollywood heavyweights resulted in Eisner dismissing ovitz. No doubt, Ovitz hoped that Livent would provide him with an opportunity to industry, a reputation that had been tarnished during his brief and turbulent stint with Disney.
Just as important, taking control of Livent would allow ovitz to compete with his former boss. At the time, Disney's The Lion King was a colossal hit on Broadway.