InvestorsHub Logo
Followers 90
Posts 12685
Boards Moderated 4
Alias Born 08/09/2000

Re: None

Thursday, 07/13/2023 1:50:53 PM

Thursday, July 13, 2023 1:50:53 PM

Post# of 6272
$DIS > Disney Stock Climbs After Bob Iger Extends Stay as CEO. Succession Remains a Big Question. -- Barrons.com
8:13 am ET July 13, 2023 (Dow Jones) Print
By Callum Keown

Bob Iger's sequel as Disney CEO will be extended until at least 2026. Investors seem happy with the longer run time.

While continuity of leadership makes sense in the near term, it only puts off the answer to Disney's long-term succession question.

Disney stock (ticker: DIS) climbed 1.5% in early premarket trading Thursday after the media and entertainment giant announced Iger will stay for at least two more years than the length of his initial contract.

Iger, who led the company between 2005 and 2020, made a surprise return to the Magic Kingdom in November last year, replacing his handpicked successor Bob Chapek amid mounting losses in its streaming business and a prolonged slump in Disney's share price.

Disney announced a restructuring this year, including plans to reduce costs by $5.5 billion and cut 7,000 jobs. Chairman Mark Parker said Iger has "once again set Disney on the right strategic path for ongoing value creation," in a statement late Wednesday.
Bullish
Bullish

"that a rich man is not the one who has the most but the one who needs the least"

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent DIS News