DOW JONES21,052.53-360.91 -1.69%
S&P 5002,488.65-38.25 -1.51%
NASDAQ7,373.08-114.23 -1.53%

Disney's Bob Iger Addresses The Coronavirus: We Are 'Incredibly Resilient'

Walt Disney Co (NYSE: DIS) Executive Chairman Bob Iger said the entertainment and media giant is "incredibly resilient" and its future remains bright.

Benzinga · 03/11/2020 17:26

Walt Disney Co (NYSE: DIS) Executive Chairman Bob Iger said the entertainment and media giant is "incredibly resilient" and its future remains bright.

What Iger Said

Iger was speaking at Disney's annual shareholder meeting and said the company has survived wars, economic downtowns and disasters, Deadline reported. Despite the stock's 25% decline since early 2020, the company's outlook moving forward remains as "bright" as it always has been.

Iger's presentation also focused on Disney's newly-appointed CEO, Bob Chapek. Iger said Chapek will do an "outstanding job" and he "can't think of a better person" to take over the CEO job.

Related Link: Here's How Long It Took Walt Disney Co. To Reach A $100B Market Cap

Why It's Important

"What we create at the Walt Disney Company has never been more necessary or more important," Iger said.

Disney's theme parks continue to operate as usual, but with an emphasis on sanitation to keep its staff and visitors safe. Disney's production business can't say the same as coronavirus concerns forced staff on "The Falcon And The Winter Soldier" to pause in Prague after the city banned all public events with more than 100 people.

Disney's stock traded lower by 6% to $104.66 per share at time of publication.