as chief executive less than a year after he retired, a surprise comeback that coincides with the entertainment company’s attempt to boost investor confidence and profits at its streaming media unit.
“Maybe the old hand on the tiller is what’s required,” said Markets.com analyst Neil Wilson as the company spends billions of dollars to compete with rival Netflix and seeks to revive its share price. Disney disappointed investors this month with an earnings report that showed mounting losses at its streaming media unit that includes Disney+. Shares hit a 20-year low the day after the fourth-quarter earnings.
Some activist investors have mounted pressure on Disney this year, including Third Point, led by billionaire Daniel Loeb.
They went woke; almost went broke. So fired the woke guy and brought back the other guy from before they went woke.