Go Woke, Go Broke? Iger Returns to Disney
Bob Iger is returning as Walt Disney’s ($DIS) CEO. Bob Chapek has stepped down. According to financial media reporting, Chapek blamed “macroeconomic factors out of Disney’s control” while the company continues to miss Wall Street expectations.
- Iger agrees to return for two years and set the strategic direction for renewed growth.
- Disney is facing a unique period of industry transformation.
Why it matters: Iger faces an uphill battle turning the company around. The company was facing their worst annual performance in share price since the 1970’s
Go woke, go broke.
- “American audiences are done with leftist propaganda in their films and television and are now actively researching and avoiding any content that promotes woke ideology and social justice talking points.” wrote popular financial blog Zero Hedge.
- The company picked a public fight with popular Florida Governor Ron DeSantis over a measure that forbade instruction on sexual orientation and gender identity in elementary schools up to third grade according to an Associated Press report.
- Shares jumped over 13% in premarket trading following the announcement.
Iger Moves to the Metaverse
In a Wall Street Journal Exclusive, former Disney CEO Robert Iger announced he is moving to the metaverse.
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