Investment firm Blackwells Capital has nominated three candidates.
Shareholders will elect the board at Disneys annual meeting April 3.
A big round of layoffs and other cuts will save the company more the $7.5 billion.
Bob Iger, DisneylandGetty
But, more importantly, there wasnt enough accountability.
Particularly on the creative side.
And that was a big issue.
Clearly, the studio had met with some hard times, or harder time .. that needed addressing.
And obviously all that affected the balance sheet.
He reiterated Disneys forecast of streaming profits in the fourth quarter.
Asked how the business could really take off, he said, We got to 100 million pretty fast.
Were now in the process of developing all of that technology.
And obviously, the gold standard there is Netflix.
We need to be at their level in terms of technology capability.
So, our marketing expenses are significantly higher, our churn rates are higher than they need to be.
This is a very complex company to run.
There are different dynamics.
Were at this hard every day.
And time and focus is necessary to generate what we need to generate for the shareholders.
And I am working really hard to not let this distract me.
Because when I get distracted, everybody who worked for me gets distracted.
And thats not a good thing.
Ill leave it at that.
