Bob Iger Bob Chapek Entertainment CEO Parke Bob Iger Bob Chapek

Disney Stock Spikes 9% After Bob Iger’s Sudden Return as CEO

Reading now: 260
thewrap.com

Wall Street has already embraced the news that Bob Iger has returned as Disney’s CEO, replacing Bob Chapek’s short and tumultuous reign: Shares in the entertainment giant climbed nearly 9% in premarket trading on Monday, to $99.85.

Chapek, the former Disney parks chief who himself replaced Iger as CEO less than two years ago, has struggled during his brief tenure amid COVID pressures, economic issues as well self-inflicted management wounds — and Disney’s shaky revenue picture has driven its stock price down 41% since the start of the year.

The company announced a $1.47 billion loss from its streaming business in the most recent quarter, double the amount from a year earlier, and Chapek admitted that its streaming operation would not hit a September 2024 profitability target if there was a recession or other economic downturn.

Read more on thewrap.com
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related Celebs News

DMCA