Bob Iger, who returned last week as CEO of Disney (DIS), told employees Monday he intends to maintain the company’s current hiring freeze. He also reiterated the need for Disney to pivot its streaming business objective away from subscriber growth at all costs and toward profitability. As shareholders for the Club, we are pleased to see Iger taking steps to fix the missteps of his predecessor. Iger’s comments, at his first townhall meeting since taking over for the fired Bob Chapek, are in line with his previously published memo to the staff of Disney Media and Entertainment Distribution last week. In that correspondence, which came less than 24 hours after his rehiring, Iger announced the departure of the group’s leader Kareem Daniel. He also wrote: “Over the coming weeks, we will begin implementing organizational and operating changes within the company. It is my intention to restructure things in a way that honors and respects creativity as the heart and soul of who we are. As you know, this is a time of enormous change and challenges in our industry, and our work will also focus on creating a more efficient and cost-effective structure.” We’re pleased to see Iger again stress this viewpoint Monday. As Club members will recall, we started calling for change at the top, following Disney’s awful fiscal fourth-quarter results on Nov. 8. Given Disney’s lack of operational focus, particularly on the streaming side of the business, we said at the time Chapek had to go. Nearly two weeks later, he was gone. While Chapek may have been a great operator on the theme park side of the operation, Iger understands that at its core, Disney is about creativity and storytelling. Moreover, Iger is clearly coming back into the role with the understanding that while subscriber growth may have been the key streaming metric in a zero-interest-rate world — in the current landscape, it’s all about profit. The previous management was simply too slow to respond to the rapidly evolving operating environment as inflation surged and the Federal Reserve raised rates as aggressively as we have ever seen in response. We look forward to learning more about how Iger plans to restructure operations in the coming months —but for now, we believe this decision to maintain the hiring freeze and stress creativity and storytelling as Disney’s primary engine for growth is a strong start. The faster Iger can show improvement in terms of streaming profitability — or at least reduce losses in the near term — the faster we will see a turn higher in Disney’s stock price. Shares were lower by roughly 3% in Monday’s down market. They’re off about 38% year to date. We have a 1 rating on Disney, meaning we see shares a buy at current levels . While it may take some time, we think the company is back on the right path — and as a result, believe the risk/reward is incredibly favorable for those willing to give Iger a few quarters to show progress as he maps out a path to streaming profitability. (Jim Cramer's Charitable Trust is long DIS. ເບິ່ງທີ່ນີ້ສໍາລັບບັນຊີລາຍຊື່ເຕັມຂອງຫຼັກຊັບ.) ໃນຖານະທີ່ເປັນຜູ້ຈອງ CNBC Investing Club ກັບ Jim Cramer, ທ່ານຈະໄດ້ຮັບການແຈ້ງເຕືອນການຄ້າກ່ອນທີ່ Jim ຈະເຮັດການຄ້າ. Jim ລໍຖ້າ 45 ນາທີຫຼັງຈາກສົ່ງການແຈ້ງເຕືອນການຄ້າກ່ອນທີ່ຈະຊື້ຫຼືຂາຍຫຼັກຊັບໃນຫຼັກຊັບຄວາມໃຈບຸນຂອງລາວ. ຖ້າ Jim ໄດ້ເວົ້າກ່ຽວກັບຫຼັກຊັບໃນ CNBC TV, ລາວລໍຖ້າ 72 ຊົ່ວໂມງຫຼັງຈາກອອກຄໍາເຕືອນການຄ້າກ່ອນທີ່ຈະດໍາເນີນການການຄ້າ. ຂໍ້ມູນຂອງສະໂມສອນການລົງທຶນຂ້າງເທິງແມ່ນຂຶ້ນກັບຂໍ້ກໍານົດ ແລະເງື່ອນໄຂຂອງພວກເຮົາ ແລະນະໂຍບາຍຄວາມເປັນສ່ວນຕົວ, ພ້ອມກັບການປະຕິເສດຄວາມຮັບຜິດຊອບຂອງພວກເຮົາ. ບໍ່ມີພັນທະ ຫຼືໜ້າທີ່ຂອງການເງິນ, ຫຼືຖືກສ້າງຂື້ນ, ອີງຕາມການໄດ້ຮັບຂໍ້ມູນໃດໆກໍຕາມທີ່ສະໜອງໃຫ້ໃນການເຊື່ອມຕໍ່ກັບສະໂມສອນການລົງທຶນ.
Bob Iger, ອະດີດ CEO, ບໍລິສັດ Walt Disney
Scott Mlyn | CNBC
Bob Iger, who returned last week as CEO of Disney (DIS), told employees Monday he intends to maintain the company’s current hiring freeze. He also reiterated the need for Disney to pivot its streaming business objective away from subscriber growth at all costs and toward profitability. As shareholders for the Club, we are pleased to see Iger taking steps to fix the missteps of his predecessor.
Source: https://www.cnbc.com/2022/11/28/bob-igers-fast-start-back-as-disneys-ceo-is-welcome-news-to-shareholders-like-us.html