CEO Bob Iger's 3 Big Gambits Could Spell Trouble for Disney
When CEO Bob Iger ceded the helm of Walt Disney (NYSE: DIS) to Bob Chapek in early 2020, he went out on a high note. The House of Mouse made box office history in 2019, generating a record-breaking $11.1 billion in worldwide ticket sales. The company also shattered the previously held record for the most movies to surpass $1 billion in worldwide box office in a single year.
Iger also presided over the launch of streaming service Disney+, notching nearly 29 million subscribers in its first three months of operation. Disney closed out fiscal 2019 (ended Sep. 28, 2019) with revenue that grew by $10 billion or 17%.
When Iger took back the reins in late 2022, he returned to a very different company. In the wake of a global pandemic, theater closures, and the worst economic downturn in over a decade, Disney was a company in free fall. The once-booming business had slowed to a crawl, and the stock had fallen more than 44% from its peak.
Source Fool.com
