(BFM Bourse) – The action of the media giant progressed sharply on Wall Street on Monday after the company chose to reappoint at its head the leader who made it successful between 2005 and 2020. But significant challenges lie ahead. horizon.
It’s back to the future in the enchanted kingdom. The iconic Bob Iger, who led Walt Disney for 15 years before letting go of the reins in 2020, was recalled to head the company on Sunday, succeeding Bob Chapek who resigned.
The group did not specify the reasons for Chapek’s departure, which, however, comes after quarterly results recently received by the market – with the soaring costs of the Disney + streaming platform – and while the group is forced to cut into their expenses. And that its share price has fallen by 40% since the start of the year…
Under the aegis of Bob Iger, the group led a series of acquisitions which began in 2006 with Pixar then Marvel Studios and Lucasfilm, which respectively own the rights to adapt certain Marvel franchises and Star Wars. So many licenses that have allowed him to become an even more essential player in the seventh art and to ensure a substantial offer at Disney +.
On the New York Stock Exchange, the market appreciates this return of the strong man of Disney, the action of the group taking 7.4% to 98.58 dollars around 4:30 p.m.
“Make things happen”
“While Chapek’s departure is not a surprise due to the recent turmoil and title decline, Iger’s resurgence is a good surprise. Iger will be seen as a catalyst for improving the content aspects of [Disney]and we expect more significant potential strategic shifts around the long-term shape of DTC [direct-to-consumers, division qui regroupe notamment Disney +, NDLR”, estiment les analystes de Wells Fargo, cités par Investing.com .
“Bien que l’annonce ne résolve pas tous les problèmes de [Disney]we think investors will embrace it because it puts perhaps the best media executive at the helm of the company with a mandate to make things happen,” they continue.
“The question is whether this solves Disney’s main strategic dilemma of what to do with Disney+, which lost $1.5 billion last quarter and distorts the rest of the business,” said Ian Whittaker. , independent analyst at Liberty Sky Advisors, quoted by Bloomberg. “I don’t think that’s the case. Iger was the architect of the streaming strategy and still seems committed to it,” he continues.
Bob Iger’s arrival also comes some time after activist fund Trian took a stake of more than $800 million, according to the wall street journal. According to the American daily, this fund would not welcome the return of Bob Iger.
To see if Bob Iger will allow the media giant to find the magic to re-enchant Wall Street. And sign a convincing return, the best example remaining Steve Jobs. The co-founder of Apple had been removed from his group in the mid-1980s before taking over the leadership of the group in 1997 and bringing it to the success that we know, with the launch of the iPhone of the iPad. .
Julien Marion – ©2022 BFM Bourse