Disney CEO Bob Iger reportedly plans town hall for employees during turnaround
Disney shares have gained over 10% this year, trailing the S&P 500's 18%+ rise
Tigress Financial Chief Investment Officer Ivan Feinseth joined ‘Varney & Co.’ to discuss the U.S. markets and Disney’s optimistic stock price.
Disney and CEO Bob Iger will reportedly host a town hall for the entertainment giant’s staffers.
Multiple leaders will participate in the event, with Iger expected to gear his comments toward the "many opportunities before" Disney, according to Bloomberg. The outlet cited an internal company memo.
It will apparently be for all of the entertainment giant’s employees.
Disney Executive Chairman Bob Iger attends the Exclusive 100-Minute Sneak Peek of Peter Jackson's "The Beatles: Get Back" at El Capitan Theatre Nov. 18, 2021, in Hollywood, Calif. (Charley Gallay/Getty Images for Disney / Getty Images)
The town hall is scheduled for Nov. 28, the Tuesday after Thanksgiving, according to Bloomberg.
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FOX Business reached out to Disney for comment on the matter.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 103.25 | -0.12 | -0.12% |
The entertainment giant recently released its fourth-quarter financial results, and it reported overall revenue for the three-month period of $21.24 billion and net income of $246 million.
In this Aug. 8, 2017, file photo, The Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File / AP Images)
"While we still have work to do to continue improving results, our progress has allowed us to move beyond this period of fixing and begin building our businesses again," Iger said during an earnings call earlier this month.
At the time, he identified hitting "sustained" profitability in streaming business, turning ESPN into a "preeminent digital sports platform," making improvements at its film studios and "turbocharging" growth in its Experiences segment as four "key building opportunities." Its parks and cruises fall under the Experiences segment.
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Disney has also been weighing what to do with its television networks.
Crowds pack Main Street USA at the Magic Kingdom Park at Walt Disney World in Orange County, Fla., June 1, 2022. (Joseph Prezioso/Anadolu Agency via Getty Images / Getty Images)
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The company indicated earlier this month it would trim $2 billion more in costs, raising its annual savings goal to $7.5 billion.
Disney shares have gained over 10% this year, behind the S&P 500's 18%+ rise.