Walt Disney Co. shocked the entertainment world last weekend when it fired CEO Bob Chapek and replaced him with former chief executive Bob Iger.
Iger, who previously led Disney as CEO for 15 years before stepping down in 2020, returns after a string of disappointing financial results, while the company's stock price has tumbled 48% this year. Layoffs loom. Here are three things Wall Street analysts say Iger is likely to focus on to restore the entertainment giant's mojo.
Analysts think Iger will likely ditch the wide range of content on Disney+ and tighten its focus although no such plans have been formally announced.
"A return to a superfan product focused on franchises should lead DTC losses to come down," MoffettNathanson said in a research note after news of Iger's shock return.