Analyst Calls Disney CEO Bob Chapek "Delusional", Demands For Him To Be FIRED

The Walt Disney Company held its fourth-quarter earnings call on Tuesday, announcing the company fell short of expectations for profit and key revenue segments.

Although the company announced it has had strong growth for its Disney+ streaming platform, both its parks and media divisions underperformed estimates.

Now, one analyst is once again calling for Disney CEO Bob Chapek, who took on the role of CEO of the Walt Disney Company after Bob Igerstepped down in early 2020, to be fired because of this.

CNBC “Mad Money” host Jim Cramer has spoken out after the Disney earnings call and is not holding back his opinion on the CEO. In fact, he says Disney needs to fire Bob Chapek.

“Disney, they have ESPN. If we were on ESPN, we would say he’s got to be fired. That’s pretty cut and dry,” Cramer said on CNBC’s “Squawk Box” Wednesday morning. “The losses here are just mind-boggling. When you’re going over the quarter, it’s stunning.”

After Chapek released his statement on the earnings, Cramer called him "delusional."

“The way he handled it, he made it sound like it was a four-star quarter,” Cramer said.

According to CNBC, "The company’s quarterly results missed Wall Street expectations on the top and bottom lines, as both its parks and media divisions underperformed estimates. And Chief Financial Officer Christine McCarthy tempered investor expectations for the new fiscal year, forecasting revenue growth of less than 10%. The company reported 2022 fiscal revenue growth of 22%."

Additionally, the company saw a $1.5 billion loss of DTC.

“Our fourth quarter saw strong subscription growth with the addition of 14.6 million total subscriptions, including 12.1 million Disney+ subscribers,” Chapek said in his statement.

“The rapid growth of Disney+ in just three years since launch is a direct result of our strategic decision to invest heavily in creating incredible content and rolling out the service internationally, and we expect our DTC operating losses to narrow going forward and that Disney+ will still achieve profitability in fiscal 2024, assuming we do not see a meaningful shift in the economic climate,” Chapek continued.

Bob Chapek has been CEO since 2020 after Bob Iger stepped down from the position. He has run the company during the COVID-19 pandemic as well as had to make some difficult decisions throughout these last two years.

Some of those decisions included budget cuts and layoffs of thousands of Cast Members after the Parks shutdown due to the ongoing pandemic as well as price increases in the theme parks. He also was part of the launch of Disney Genie, including the new paid FastPass system, Lightning Lane, which had fans up in arms.

Many feel as though Bob Chapek is not taking the company in the appropriate direction, and have even begun a petition to have the CEO fired from the company.

At this time, there is no word on if Chapek will be fired from the company.