Does Disney's New CEO Make It a No-Brainer Stock to Buy Before 2023?
Wall Street got a surprise announcement to kick off the week when Walt Disney (NYSE: DIS) told the world on Sunday night that Bob Iger was returning to the CEO role, effective immediately. Making this announcement more surprising was that former CEO Bob Chapek signed a new contract with the entertainment giant in June.
Management is certainly an important part of any investing thesis, but does replacing a CEO make a stock a buy? A look at the track records of the two Disney leaders mentioned above may provide some insights into what led to this decision and whether this C-suite change portends different results in the future for the company and the stock.
Bob Chapek took over as CEO in February 2020 after leading Disney's parks, experiences, and products division. Chapek faced an immediate challenge due to the COVID-19 pandemic, which shuttered Disney's parks and cruise lines for many months.
Source Fool.com
