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Disney Shares Surge As Investors See Bob Iger Wielding Magic Wand In Return To CEO Role

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deadline.com

Disney shares busted out of the starting gate, rising 8% in early trading on a wave of optimistic sentiment about Bob Iger’s return engagement as CEO.

The stock pushed near the $100 mark after rising in pre-market trading. It had slumped more than 40% in 2022 to date as financial results have weakened on the watch of ousted CEO Bob Chapek.

Wall Street analysts weighed the company’s new prospects under Iger, who ended a 15-year run as CEO in 2020 before being summoned out of retirement by the company’s board of directors in a Sunday night shocker.

The 71-year-old exec will serve at least two years in the top job and identify a successor, the board said. Just five months ago, it had extended Chapek’s contract through 2025, making the Iger move all the more stunning.

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