Iger’s Hero Act Could Leave His Successor Playing the Fool
Disney ended its fiscal year with a bang. But some of the moves charming investors now could blow up later.
In the spotlight.
Photographer: Araya Doheny/Getty Images North America
Walt Disney Co. is putting the finishing touches on a multi-year storyline that has cast Bob Iger as the company’s knight in shining armor.
Two years after Iger returned as CEO to save the company, Disney last week reported stellar results that exceeded analyst expectations and sent the stock up more than 6% — its biggest daily increase since February. Disney’s closely watched streaming business swung to a $321 million profit from a nearly $400 million loss a year ago, and the film unit had what Iger said was one of the best quarters in its history thanks to Inside Out 2 and Deadpool & Wolverine.