Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Leading media company The Walt Disney Company (NYSE:DIS) announced the extension of CEO Bob Chapek's contract Tuesday.
What Happened: As Benzinga previously reported, the Disney board met this week for an annual retreat.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Among the topics that were expected to discussed were a contract extension for Chapek, 61, who became the CEO of Disney in 2020.
The board announced Tuesday it unanimously voted to extend Chapek’s contract as CEO by three years. The contract, which was set to expire in February 2023, will now last until 2026.
“Disney was dealt a tough hand by the pandemic, yet with Bob at the helm, our businesses — from parks to streaming — not only weathered the storm, but emerged in a position of strength,” Disney Chairman Susan Arnold said.
“The Board is committed to keeping Disney on the successful path it is on today.”
Chapek thanked the board in a statement and called being the CEO “the honor of a lifetime.”
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Related Link: The Crisis At Disney: Part 1, Bob Chapek's Blunder Road
Why It’s Important: While the board has “full confidence” in Chapek moving forward, the same can’t be said for many Disney employees, theme park goers and Disney shareholders.
As previously discussed, the handling of Disney’s silence on LGBTQ+ issues and censorship in movies created a major public and internal crisis.
A petition to replace Chapek has over 100,000 signatures and cites the lack of caring about theme park goers as a major concern, alleging a prioritization of profits over people.
Lastly, Disney shareholders previously saw strong returns as high growth names were flying and the company was looped in with streaming and technology names.
Disney shares are now down near 52-week lows and are down over 27% since Chapek took the CEO role.
DIS Price Action: Disney shared closed at $96.20 on Tuesday versus a range of $92.01 to $187.57.
Photo via Shutterstock.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.