Kareem Daniel, who had been elevated to one of the most powerful positions in Disney by his former boss Bob Chapek, was ousted Sunday night in a stunning move by Disney’s board. Many executives complained that they lost their autonomy when he was promoted.
Iger has already taken steps to undo some of the organizational changes made by his predecessor, but his return to the company comes with many challenges.recently announcedMedia analyst Michael Nathanson praised the return of Iger, raising his rating on the Disney stock to outperform .
Iger ran Disney from 2005 to 2020, then served as the company’s executive chairman through 2021 when he retired. Under his new deal, he will be chief executive for the next two years and will be tasked with finding a successor. “What I like about Bob Iger: He’s been direct, he’s been honest,” Nathanson said. “He’ll make tough choices. There are tough choices here as far as the assets they have and the investment they need.”
“It’s going to be a different regime than when he first started,” Nathanson said. “He has to cut things. He has to look at the portfolio and really make some hard decisions.”in its last financial quarter on its streaming services, which have added subscribers without approaching profitability.
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