Everyone scratching their heads over what Bob Iger, the CEO of Disney, is doing after the discovery of some curious financial moves.
Bob Iger, a name synonymous with Disney’s and has recently been vocal about Disney’s resurgence. He’s been painting a picture of a company on the rebound, shaking off the dust from a few rough years marked by box office disappointments and a series of controversies.
Iger, who has been blamed for a lot of the current issues at Disney, has faced pressure from the board of directors, who want a quick turnaround.
The this caught the eye of many: Iger is selling off a significant portion of his Disney stock.
Disney is in the middle of a storm. Most of the content they publish is not performing well, which we have documented well. Additionally, there is about to be a big vote by the board to decide company leadership.
The board of directors is currently locking horns with billionaire investor Nelson Peltz, who, along with other notable figures like former Marvel Entertainment chair Ike Perlmutter and former CFO Jay Rasulo, is vying for control. Meanwhile, another investment group, Blackwells Capital – who’s known for turning companies around – is also in the mix, making the battle for Disney’s future a rather crowded affair.
In the midst of this corporate saga, questions are swirling around Iger’s future with the company. Despite his assurances that finding a successor is a “priority,” his actions tell a different story. Over the last 12 months, Iger has reduced his stake in the company by a staggering 80%. Just to put that into perspective, from a reported ownership of about 1,030,000 shares, he’s down to 204,899. That’s a significant chunk of change, and it’s got people wondering what’s really going on.
Is this a sign that Iger is planning his exit strategy, or is there another play at work here? It’s worth noting that Iger is not just any executive; he’s one of Disney’s largest individual shareholders, a list that includes heavyweights like former CFO Christine M. McCarthy and Disney general counsel Alan N. Braverman. So, when someone of Iger’s stature starts liquidating assets, it’s bound to raise more than a few eyebrows.
The big question is, what does this mean for Disney and for Iger? Is this move a strategic financial decision, or is it indicative of deeper changes afoot within the company? Since returning he hasn’t seemed to be able to change the culture (if he wanted to in the first place).
What do you think is going on?
