Thursday, July 13, 2023 1:50:53 PM
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.
Recent DIS News
- Deutsche Bank Faces Shareholder Backlash, Bank of America Sponsors 2026 World Cup, Quanterix CEO Buys More Shares • IH Market News • 08/16/2024 10:03:21 AM
- Disney Names Adam Smith Chief Product & Technology Officer, Disney Entertainment & ESPN • Business Wire • 08/15/2024 07:06:00 PM
- Starbucks Rises 3%; Disney Unveils New Films and Expansions; Uber CEO Questions Tesla Robotaxi Viability, and More • IH Market News • 08/12/2024 09:46:16 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/09/2024 08:33:36 PM
- TSMC July Revenue Surges 45%, Nasdaq Accelerates Penny Stock Delistings, Moody’s Downgrades Intel to BAA1, and More • IH Market News • 08/09/2024 09:44:44 AM
- Jobless Claims Data May Lead To Initial Strength On Wall Street • IH Market News • 08/08/2024 01:06:34 PM
- Intel Sued by Shareholders; JPMorgan Raises Chance of Recession; Roblox Blocked in Turkey; Micron Resumes Share Buyback • IH Market News • 08/08/2024 09:48:43 AM
- U.S. Stocks Move Back To The Downside After Initially Extending Yesterday’s Rebound • IH Market News • 08/07/2024 08:56:08 PM
- Futures Pointing To Extended Rebound On Wall Street • IH Market News • 08/07/2024 01:07:27 PM
- The Walt Disney Company Executives Share Commentary on Fiscal Third Quarter 2024 Financial Results • Business Wire • 08/07/2024 11:01:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/07/2024 10:54:11 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 10:52:28 AM
- The Walt Disney Company Reports Third Quarter and Nine Months Earnings for Fiscal 2024 • Business Wire • 08/07/2024 10:50:00 AM
- US Index Futures Rise Amid Earnings Season Optimism, Oil Prices Rebound • IH Market News • 08/07/2024 09:49:12 AM
- Apple Delays AI Features, Abbott Shares Plunge 7% After $495M Fine, Philips Soars 10% • IH Market News • 07/29/2024 10:24:10 AM
- Alphabet Unveils AlphaProof and AlphaGeometry 2; OpenAI Tests SearchGPT; Apple Loses Market Share in China • IH Market News • 07/26/2024 10:07:41 AM
- NBA Signs Billion Dollar Broadcast Deal, CrowdStrike Criticized for Insufficient Reward, Honda Shuts Down Chinese Factory • IH Market News • 07/25/2024 10:15:46 AM
- Meta Unveils Llama 3 AI Model, Elon Musk’s X Poll Backs Tesla’s $5B xAI Investment, and More • IH Market News • 07/24/2024 09:53:32 AM
- Johnson Controls Division Sold for $8 Billion; Alphabet’s Offer Rejected by Wiz; AMD President Announces Retirement • IH Market News • 07/23/2024 10:00:52 AM
- Berkshire Sells BofA Holdings, Ryanair Shares Drop 12%, Delta Still Struggling After IT Disruption • IH Market News • 07/22/2024 09:44:17 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/19/2024 08:16:37 PM
- The Walt Disney Company Announces Departure of Board Director Safra A. Catz • Business Wire • 07/19/2024 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 11:01:21 PM
- The Walt Disney Company Executives to Discuss Fiscal Third Quarter 2024 Financial Results via Q&A Webcast • Business Wire • 07/18/2024 05:00:00 PM
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services • HLYK • Aug 16, 2024 8:00 AM
PickleJar Announces Official Name Change and New Ticker Symbol • NREG • Aug 15, 2024 2:23 PM
VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months • VAYK • Aug 15, 2024 9:07 AM
Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting • DRCR • Aug 15, 2024 9:04 AM
Mayback's Global Entertainment Signs Global Distribution Agreement with Children's Media Studio • AHRO • Aug 15, 2024 8:45 AM
POET Technologies Reports Second Quarter 2024 Financial Results • POET • Aug 15, 2024 8:04 AM