Experts Skeptical On Return Of Bob Iger To Disney
(HorizonPost.com) – Following Bob Chapek’s disastrous stint, The Walt Disney Co. is hopeful that returning CEO Bob Iger can wave his magic wand like Cinderella’s fairy godmother and turn everything around.
Analysts, however, believe that the work won’t be as simple, stating that Iger would need to reduce spending and restore profitability in two years, which may be a magic trick that the Disney veteran is unable to perform.
Disney’s streaming services, which lost a staggering $1.5 billion last quarter as the firm tries to compete with rival streaming services like Netflix and HBO Max, are among the sectors where the most significant cuts are anticipated to occur.
Following poor corporate earnings and a falling stock price on Sunday, Disney swiftly fired CEO Bob Chapek. Chapek’s misguided culture war gambits, like as a political spat with Florida Gov. Ron DeSantis (R) and a wholehearted embrace of radical LGBTQ identity politics, gravely damaged Disney’s once-revered brand, which has since lost all of its lusters.
Bob Iger is now responsible for steering the ship back on course while also salvaging it. According to a Reuters story, some analysts question if Iger’s two-year term will be long enough to accomplish those objectives.
According to a report from Rosenblatt Securities, Iger can’t stay forever, and that’s the issue. He already halted Tom Staggs’ changeover in 2016, and now (Bob) Chapek.
Disney+ is not the only corporate product that should be targeted for significant savings, according to analysts at MoffettNathanson. As the network loses cable customers, they recommended that ESPN evaluate all future sports rights.
Iger leans even farther left than Chapek in terms of politics. The 71-year-old veteran of Disney was a vocal opponent of the late President Donald Trump, and he even pondered the idea of running against Trump for the Presidency, a notion he eventually abandoned.
Iger recently stated to CNN that business executives have a moral duty to speak out on politics and society, such as immigration, the LGBTQ community, and the environment.
The majority of these issues are not always political. Iger stated that it was about right and wrong.
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