In a new interview, an infamous financial analyst shared his opinion on the current Walt Disney Company CEO.
Longtime financial analyst and news host Jim Cramer is calling for Bob Chapek to be removed from his CEO position with The Walt Disney Company.
In a video segment from Squawk Box, Cramer boldly claims there is “no doubt” that Disney CEO Bob Chapek should “absolutely” be fired. Cramer also called Chapek “delusional” for how he took pride in the company during a quarter that had “mind-boggling” losses.
The full interview segment can be seen below:
The board voted unanimously to extend Chapek’s CEO contract earlier this year, indicating that he will be sticking around, at least for the next three years.
Disney’s stock price currently sits around $88 per share, down nearly $12 since yesterday’s closing price. Disney had quite a big fourth quarter, revealing the Parks division alone brought in a whopping $28 billion in revenue alone.
According to a new filing by Disney, the Disney Parks division of the company posted $7.4 billion in the fourth quarter of 2022 and a whopping $28.7 billion in total revenue for the fiscal year 2022, which ended on October 1, 2022.
This new Q4 report indicates a 73% increase in total revenue compared to fiscal 2021. A statement from CEO Bob Chapek was included in the report in which he boasts about these very impressive numbers. A portion of that statement can be read down below:
“2022 was a strong year for Disney, with some of our best storytelling yet, record results at our Parks, Experiences and Products segment, and outstanding subscriber growth at our direct-to-consumer services, which added nearly 57 million subscriptions this year for a total of more than 235 million,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company.
What are your thoughts on Bob Chapek?