Disney just announced its new CEO. Here's what it means for investors
Investors analyzed Disney's decision to tap parks chief Josh D'Amaro as the successor to CEO Bob Iger.
TL;DR
- Josh D'Amaro appointed as Disney's new CEO, effective mid-March.
- D'Amaro previously led Disney's parks and cruises division, which achieved $10 billion in quarterly revenue.
- Wall Street's reaction included a stock price pop followed by a decline.
- Concerns about Disney's near-term guidance and international tourist visits are impacting stock performance.
- Analysts suggest D'Amaro must address the direct-to-consumer strategy and potentially core intellectual property focus.
- The succession announcement is expected to remove an overhang on the stock, with average analyst ratings being 'buy'.