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Barchart
Barchart
Rich Asplund

Can CEO Iger Restore Disney’s Magic?

Disney Iger Netflix

Shares of Walt Disney (DIS) fell to a 6-1/2 month low Monday and are down more than -1% this year, significantly underperforming the S&P 500 ($SPX) (SPY), which is up more than +18% this year. Investors hope that CEO Iger can turn the company around in his second stint.  Disney’s stock price surged nearly sixfold during Iger’s first 15-year stay as CEO through February 2020.  However, the company now faces more complex challenges than during Iger’s first stint as CEO.

Former Disney CEO Chapek oversaw a -28% decline in Disney’s share price during his brief time as CEO, as the Covid-19 pandemic forced the company to temporarily shut its theme parks, film studio, and cruise business.  Current Disney CEO Iger, whose two-year contract was extended last week through December 2026, has yet to turn the stock around as Disney’s share price has fallen -6.8% since he returned as CEO in November.  In comparison, Netflix (NFLX), which competes with Disney directly in streaming, is up 56%.

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