For those of us market watchers, this is no surprise. ESG is ki----g every industry it infects and DEI initiatives over merit have smaller competitors eating our lunch. make no mistake, bob paycheck is collecting personal bonuses from european billionaires demanding he participate in ESG while the rest of us get tossed over the side of a burning, sinking ship. iger is not without blame, but even he has seen the writing on the wall: "Linear TV and satellite is marching towards a great precipice and it will be pushed off". In other words, these ESG investors are marching Disney right off a cliff from which there is no return.
Prominent investor Vivek Ramaswamy advised Chapek in a personal letter, “You owe a fiduciary duty to the actual owners of Disney, not to the institutions who claim to represent them...there is strong reason to believe that these large asset managers are not acting with their clients’ best interests in mind."
This isn't the disney we all grew up with. this is a hostile takeover to deliberately destroy the company and chapek is padding his pockets as he allows it to continue.
https://archive.ph/0RX6j