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☆ Bob Iger moves fast to dismantle Chapek’s reorganization of Disney
▼ + stars: | 2022-11-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

Disney’s shares ended Monday up more than 6% on a day that the Dow Jones was slightly down. Second, Iger is moving fast — not even waiting a full 24 hours to announce sweeping changes — to dismantle Chapek’s reorganization of the company. The speed at which Iger is hurtling is especially remarkable given that Disney’s board only made its overture for Iger to return to the embattled company on Friday. “Over the coming weeks, we will begin implementing organizational and operating changes within the company,” Iger wrote to employees. Looking further into the future, bigger questions abound: What will Disney look like when Iger’s two-year deal is up?

☆ Inside Bob Iger's return to Disney: A senior executive's outreach to the former chief followed months of complaints to the board about CEO Bob Chapek
▼ + stars: | 2022-11-21 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +6 min

Bob Iger is returning to Disney as CEO, ending the rocky tenure of his successor, Bob Chapek. This person said the board realized its chief executive simply wasn't up to the job after the high-level company executives shared their frustrations. "Bob Iger is one of the top executives of the last decade. Daniel and a handful of other top executives are expected to find out their fate in the next 24 hours, said the senior Disney Insider. "I'm really happy pleased that Bob Iger has accepted this has decided to come back at a critical time for the company," the senior Disney insider said.

☆ Iger announces first big moves in new tenure as Disney CEO: Restructuring and departure of Chapek right hand Kareem Daniel
▼ + stars: | 2022-11-21 | by ( Alex Sherman Lillian Rizzo Sara Salinas | Alex Sherman | Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Bob Iger, less than 24 hours after returning to the helm of Disney , told employees Monday that the company would be undergoing a restructuring in coming weeks. One of the first steps, Iger announced, would be the departure of Kareem Daniel, the company's head of media and entertainment, and right hand to now-departed CEO Bob Chapek. "This will necessitate a reorganization of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company," Iger said in the memo, which was obtained by CNBC. Chapek reorganized the company to establish the DMED division and consolidate budgetary power for Disney's content and distribution divisions under Daniel.

☆ Bob Iger's stunning return as Disney CEO throws all of Bob Chapek's major decisions into question
▼ + stars: | 2022-11-20 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Bob Iger's shocking return as Disney 's chief executive officer immediately throws into question several major decisions made by outgoing CEO Bob Chapek. Disney shares have fallen more than 40% this year, including slumping on weak fiscal fourth-quarter results earlier this month. The Disney board's choice to replace Chapek with Iger speaks to it having more confidence Iger will deliver better results. Given Iger's support for a three-pronged streaming strategy of Hulu, ESPN+ and Disney+, it's likely he would choose to do the same. WATCH: Bob Chapek and Bob Iger's strained relationship

☆ We're fed up after Disney's terrible quarter and streaming losses. It's time for some big changes
▼ + stars: | 2022-11-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Operating income fell 91% to $83 million mostly due to higher than expected losses from the Direct-to-Consumer business. In better news, Disney ended Q4 with 164.2 million Disney+ subscribers, up 12.1 million from the prior quarter and well above estimates of about 160.45 million. Bundling has a negative effect on ARPUs, and Disney said Tuesday evening that bundled and multiproduct offerings now make up over 40% of domestic Disney+ subscribers. In terms of subscribers, Disney sees core Disney+ subscribers slightly increasing in its first quarter, though Disney+ Hotstar is expected to lose subs due to the absence of the Indian Premier League Cricket rights. After checking consensus estimates, this is a terrible miss compared to expectations of sales growing by 11% and operating income increasing by 17%.

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