Updated with Disney’s response. Disney has responded to a letter from Third Point’s Daniel Loeb, reaffirming the leadership of CEO Bob Chapek and pushing back at Loeb’s call for a “refresh” of the company’s board.
“We welcome the views of all our investors,” Disney said in a statement. “As our third quarter results demonstrate, The Walt Disney Company continues to deliver strong financial results powered by world-class storytelling and our unique and highly valuable content creation and distribution ecosystem. Under the leadership of Bob Chapek, the company has delivered this strong performance while navigating the Covid-19 pandemic and its aftermath, including record streaming subscriptions and the reopening of our parks, where we have seen strong revenue and profit growth in our domestic parks business.”
As to the board, the statement described the body as an “independent and experienced” group with “significant expertise in branded, consumer-facing and...
“We welcome the views of all our investors,” Disney said in a statement. “As our third quarter results demonstrate, The Walt Disney Company continues to deliver strong financial results powered by world-class storytelling and our unique and highly valuable content creation and distribution ecosystem. Under the leadership of Bob Chapek, the company has delivered this strong performance while navigating the Covid-19 pandemic and its aftermath, including record streaming subscriptions and the reopening of our parks, where we have seen strong revenue and profit growth in our domestic parks business.”
As to the board, the statement described the body as an “independent and experienced” group with “significant expertise in branded, consumer-facing and...
- 8/15/2022
- by Dade Hayes
- Deadline Film + TV
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