CNBC’s Jim Cramer called Bob Chapek’s characterization of Disney’s dismal earnings “delusional” and called for the CEO to be “fired.”
Disney CEO Bob Chapek told investors that the company was making progress on its streaming efforts, even as the unit lost $1.5 billion in the quarter.
“There is just no doubt that he has to go,” Cramer said. “The way he handled it, he made it sound like it was a four-star quarter. Delusional.”grabbed the reins at the House of Mouse in 2020 after Bob Iger retired from his 15-year stint at the company. The former chairman of Disney’s lucrative theme parks division expressed how difficult his time as CEO has been during a panel at the Paley Center for Media in New York on Wednesday.
“It was really scary for me,” Chapek said, referring to the first few weeks as CEO, which was marked by the onset of the pandemic and theJim Cramer slammed Chapek for his “delusional” response after the company’s weak earnings results this week.“There’s no playbook on it,” he said, referring to the response to the pandemic. “You don’t know what challenge lays around the corner [as CEO].”
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