Return of Disney’s ex CEO
Disney shareholders will be interested to learn that the entertainment giant has announced a controversial job swap — or ‘Bob’ swap. Bob Iger, Disney’s former CEO of 15 years, is being parachuted back into the business to replace current CEO, Bob Chapek who took the reins in February 2020.
The decision comes after Chapek’s “tumultuous” tenure, with Iger returning only days following Chapek’s announcement of plans to stop hiring and implement layoffs and cost cuts.
This CEO 360° was announced in an email to Disney employees and obtained by CNBC.
A shareholder thinking outside the Fox
In 2013, News Corp and Fox Corporation were split into two companies. But now, nearly 10 years later, the founder and Chair of both corps, Rupert Murdoch, is trying to merge the two together once more.
The merging of the two businesses would place companies like Fox News, The Wall Street Journal, and TMZ all under the same corporate blanket.
However, not everyone is on board with this. A large shareholder, Independent Franchise Partners (IFP), has 7.7% ownership of Fox News and a further 7% of News Corp.
IFP has come out in opposition to this proposed deal, claiming that merging the two companies could prove unsafe regarding the shareholder value for both of them.
Not so fantastic for Mr. Murdoch.
Foxtons directors in a real (e)state
At its AGM this June, British estate agents Foxtons saw strong shareholder opposition to the re-election of two of its directors — Alan Giles and Sheena Mackay.
They received approximately 43% opposition but were ultimately approved by shareholders. Nonetheless, Foxtons is on the search for their two successors as neither director will be standing for re-election next year. The Chair Mr. Nigel Rich wished “them well with their new endeavours”.
Will this end shareholders cause fur concern?
Fate of Purplebricks Chair in shareholder’s hands
On the 19th of December 2022, shareholders of online estate agent Purplebricks will be asked to vote on two proposals requested by a large shareholder, Lecram Holdings Limited.
At the General Meeting, shareholders will decide whether they want to see the removal of the company’s Chair, Paul Pindar, and the appointment of Rightmove co-founder, Harry Hill to the Board.
Purplebricks Board unanimously recommends that its shareholders vote against both proposals.
How will the foundations of Purplebricks Board fare?
