Morning Wire Disney Shakeup & Iran Protests Turn Deadly | 11.23.22
Nov 23, 2022
A major shakeup at Disney sees the return of former CEO Bob Iger amidst financial struggles and investor concerns. In Iran, protests are intensifying, driven by demands for cultural and political reforms, while the government responds with severe crackdowns, particularly against youth. The podcast also highlights the rising fentanyl crisis in the U.S., revealing alarming statistics and the dangers of drug combinations. Meanwhile, a mix of current events includes migrant rescues and discussions on wildlife management.
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Chapek Out, Iger In
- Disney CEO Bob Chapek was ousted due to a declining stock price and political controversies.
- Former CEO Bob Iger returns to temporarily lead the company.
Disney's Financial Troubles
- Chapek's ouster was surprising given his recent contract renewal, but Disney's stock dropped 36% in 2022.
- The streaming division also lost $1.5 billion, leading to a hiring freeze and layoffs.
Social Issues and Chapek's Downfall
- Chapek's wavering stance on social issues, like Florida's education bill, caused internal unrest.
- This led to financial consequences and negative PR, contributing to his downfall.