Disney Brings Back Another Classic With Bob Iger's Return. Big Changes Are Coming. [MarketWatch]
Perella Weinberg Partners - Class A (PWP)
Company Research
Source: MarketWatch
The company announced in a bombshell statement that Bob Chapek has stepped down as CEO , with predecessor Bob Iger returning to lead Disney immediately. It's certainly a surprise, but the problems had been mounting for Chapek, culminating in the company's weak fiscal fourth quarter earnings earlier this month. Newsletter Sign-up Disney's direct-to-consumer segment, which includes its streaming services, posted a $1.5 billion loss as investment in content outpaced revenue growth. Its theme parks business, which was meant to save the day, also disappointed as margins were squeezed by inflation. And that's before a potential recession. To make matters worse, activist investors have been circling in recent months. The upshot is that Iger will almost certainly be making changes , and potentially big ones. The former CEO has not been brought back to steady the ship, but rather to change its course completely. The status quo, or even a few moderate strategic alterations, won't c
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- 4/18/24 - Form DEFA14A
- 4/12/24 - Form ARS
- 4/12/24 - Form DEFA14A
- PWP's page on the SEC website