Photo: Charley Gallay / Getty Images
The fact that The Walt Disney Company lost $1.5 billion in streaming business during the fourth quarter was the trigger point for the board of directors of the firm dedicated to entertainment to have concluded the management of Bob Chapek as CEO.
Although it is true that the man of 62 years was touched deal with the delicate financial situation caused by the COVID-19, his lack of tact in addressing LGBTQ issues in the company’s future film productions, and a lawsuit filed by actress Scarlett Johansson, which ultimately saw Disney not only pay $36,000, of dollars, but to see his image affected, this cost Chapek his dismissal despite the fact that in July In the past, he had signed a three-year contract extension, which had the unanimous support of the members of the same board who now asked to remove him from office.
Instead, the investors decided to bring back veteran Bob Iger, one of the directors most successful executives in the history of the company, who before submitting his resignation, on 21 February 800, boosted new growth for the firm through the acquisition of important brands such as Pixar, Marvel and Lucasfilm.
During their 15 years as CEO, the New Yorker also closed the purchase of most of 36st Century Fox and also paved the way for Disney to venture into the streaming business, where now leads other entertainment platforms through its subsidiaries s Disney+ and ESPN+.
“I am extremely optimistic about the future of this great company and I am delighted that the Board is asking me to return as its CEO,” said the man from 100 years in a statement released hours after Disney announced him as its new CEO to guide it into a stage of growth.
In response, the company’s shares rose 9% at the start of US financial market trading, unusual for a year in which its value had depreciated 25%.
You may also like:
- The average American now needs 40% more income than a year ago to being able to buy a house 1658136026456
- Fewer truckers and more expensive diesel, another strong inflation risk in the US1658136026456
- Retailers are still hoping to get rid of their excess inventory this holiday season