Bob Iger, Chairman and ex-CEO of The Walt Disney Company, has sold $98.7 million worth of shares in the company in an effort to diversify his portfolio.
According to Bloomberg, Iger disposed of 550,570 shares at an average price of $179.21 on June 1, cutting the shares he owns by 50% to 555,865. In a statement, Disney said, “The value of these shares reflects the significant shareholder value generated under his leadership.”
Iger took over as CEO of The Walt Disney Company in September 2005 and Disney stock climbed more than sevenfold in his 15-year tenure. During that time, Disney acquired Pixar, Marvel, Lucasfilm, and 21st Century Fox. In early 2020, he stepped down and named Bob Chapek new CEO, though quickly took some duties back as the COVID-19 pandemic raged. He will be leaving the company completely on December 31, 2021.
This is disgusting. How dare this cretin walk away from Disney with that amount of money which was no doubt financed by the innocent families that have been preyed upon by Disney. Iger has left a company that is in complete disarray and on the verge of being financially crippled, all the while pushing the government to raise taxes on the middle class, hurting them further. No doubt Iger has done this with glee, knowing that he is financially secure with more money in the bank than he could ever spend in a lifetime. Totally revolting!
I don’t take issue with Executives exercising their stock options, as they have every right to financially gain from it. What I take issue with, and I think most people agree, is the way Iger left the Disney company. He completely ruined it, turning it from a family friendly and relatively apolitical entity to a liberal, woke, and soul-less mess, whose brand/image has been depreciated and is now facing tough financial headwinds.
Let him go and let’s hope for a “great big beautiful tomorrow” for the company Walt built. I’m still holding out hope for the Disney family to pick up more shares and get their way back on the Board!!
I’ll never forget Iger’s pro-China comments that he made while China was trying to squelch freedom in Hong Kong. I used to think he was tone deaf, but now I think it was intentional.
Go back to sleep
financially crippled?? Lol! What are you talking about. Disney is more diversified and doing better than they ever have under his tenure. Marvel was a HUGE WIN. Star wars was a huge win. Disney+ was a huge win! Sorry life didn’t work out the way you wanted, but all I see is a jealous hater commenting on a man that did a terrific job and is cashing out on the way out. It’s a disgusting amount of money, I take issue with that, but he’s done a great job.
Oh my, I can only come to the conclusion that you have not bothered to follow Disney’s “wins”, nor are you aware of the monetary loss suffered by the company, along with their increasing debt, caused by the shutdown of all their parks as well as theatrical releases. As for Disney + being a win is extremely short sited and foolish. To think that a streaming service can keep a company the size of Disney afloat is ludicrous, as is the platforms potentiometer for long term growth. As for Star Wars, the last three films have suffered from diminishing returns, which is not a recipe for financial success. Might I suggest adding fish oil to your daily nutritional intake?
Iger is the Toby of the Walt Disney Company. He’s the worst.
Chapek is proving to be much worse
Although it’s common for departing CEO’s to exercise their stock “rights”, I have to wonder if Iger is positioning himself for a future political career.
The guy’s dumping shares now that he’s leaving. Smart move.
And the rich and powerful get more rich and powerful…