Investors sceptical as former House of Mouse king Iger rides to the rescue
Share price slides after former CEO replaces Bob Chapek, whom he picked as his successor less than three years ago
Nobody loves a bit of back room boardroom drama as much as Hollywood. So when Disney announced it was bringing former CEO Bob Iger back as CEO to replace Bob Chapek, the man Iger picked to succeed him less than three years ago, industry pundits and the trades were at once aflutter.
In an industry beset by challenges the fortunes of the House of Mouse are paramount to gauging the future and fortunes of the industry. So the Disney board decision divided analysts and investors, earning hyperbolic descriptions as “the most significant piece of corporate upheaval since Steve Jobs went back to Apple”, and the catchy descriptors of “Bob swap”, and “Battle of the Bobs”, in the torrent of articles written about the move since its announcement on Sunday night...
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