Following an earnings report that set record numbers for the theme parks division, but missed investors’ expectations, longtime financial analyst and “Mad Money” host Jim Cramer is calling for Disney CEO Bob Chapek to be fired.
In a video segment from “Squawk Box”, Cramer says that there is “no doubt” that Disney CEO Bob Chapek should be fired. Cramer pulled no punches, calling Chapek “delusional” for how he talked about a quarter that had “stunning”, “mind-boggling” losses. Cramer admitted to previously believing in Chapek, but now says it’s time for the board to remove him.
Chapek recently received a 3-year extension to his contract as Disney CEO.
Disney stock currently sits around $87, close to a closing low of $85.76 set on March 23, 2020 during the early days of uncertainty during the COVID-19 pandemic. To find a Disney stock price below the COVID-19 pandemic low, you’d have to go back to October 2014. The stock price has plunged more than 12% as of publish time.
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