https://www.msn.com/en-us/money/com...ob-iger-stays-as-ceo-loop-capital/ar-AA1cDBKT
The
surprising departure of Walt Disney (NYSE:
DIS) CFO Christine McCarthy due to family health issues could result in Bob Iger staying on as CEO, investment firm Loop Capital said on Friday.
Analyst Alan Gould, who has a buy rating and a per-share price target of $120 on Disney (
DIS) shares, said he believes the company's board of directors could ask Iger to stay on as CEO after his contract expires in 2024.
"The Board is now in a position where it will be performing both CFO and CEO searches almost simultaneously," Gould wrote in an investor note, while adding that the company is also dealing with "one of the most disruptive periods" in the history of the company and the media and entertainment industry in general.
"Given this unexpected change, we speculate whether the Board might ask Mr. Iger to remain CEO for an additional year," Gould added.
Iger
returned to Disney (
DIS) in November 2022 after having stewarded the company for 15 years, taking over for his handpicked successor, Bob Chapek. At the time, Iger signed a contract for two years and said he would look for a long-term successor to replace him as CEO.
In conjunction with the departure of McCarthy, Gould lowered his estimates for Disney's fiscal 2023 and 2024 earnings per share.