A few things to note: this isn't the budget that Disney ended up having. This doesn't include Prints & Advertising. I'm assuming the picture also had a state tax credit for filming in NY and Penn. So the overall budget would probably be 10-15 million dollars less than itemized. It also looks like N.Night had a 3 picture deal at Disney.
Elon needs to step down and remove himself from the company. No one with any sanity would want to work in that environment right now. Proper leadership would be one great step towards fixing all of these issues.
It's probably too late for that. The skeleton crew left behind at Twitter isn't going to be large or capable enough to plug the holes that are about to start bursting. The next service outage Twitter has will probably finish it off.
First off he shouldn't have opened his mouth when came to this topic. Secondly, he's the wrong individual to speak on this matter, he sounds like someone that's coming from privilege. Next, when you examine the people in his lab from the past no one is person of colour. Beliefs that come into policy shouldn't reflect his thinking. Universities need to do a better job at creating better diversity for all students.
https://geosci.uchicago.edu/exoplanet-phd-graduates-from-the...
The board doesn't care about Star Wars or any movie title, the board job isn't to care about revenue that a film brings in that's the executive leadership job.
What are you going on about? The board represents the shareholders, and cares about the stock price, which is influenced by the P&L of various projects.
So it is very reasonable for the board to care. I've seen Board Members spend dozens of hours on a $20k sale for a company.
Susan E. Arnold (executive of The Carlyle Group), Mary T. Barra (GM CEO), Safra A. Catz (CEO of Oracle), Francis A. deSouza (CEO of Illumina), Michael Froman (Vice Chairman and President, Strategic Growth at Mastercard), Maria Elena Lagomasino (CEO of WE Family Offices), Mark G. Parker (CEO of Nike), Derica W. Rice (Executive Vice President of CVS Health).
Almost half of the board is a CEO of another company, you think they care about P&L of Disney? The board is mandated with 3 committees which are the Audit Committee, the Compensation Committee and the Governance and Nominating Committee. None of the committees deal with P&L or stock price. The executive team deals with the day to day operations of the company, the CFO should be the one asking about P&L and not the board. The Disney board met 7 times in 2019. I doubt they spoke about the Star Wars or any film during that meeting.
Of course the board would be concerned if they feel the company is failing to execute on one of its core properties. They're not chatting about films for fun, they acquired Lucasfilm for $4B and it's not unreasonable for them to be concerned that money's not been used as well as it could have been.
I'm talking about public companies that are listed on the exchange, private companies don't have a federal mandate to follow when it comes to governance.
Franchise management isn't just about any particular film at Disney. Star Wars represents films, TV, vehicles for SVOD subscriptions, merchandise, parks, and hotels. Franchise roadmaps are regularly put in front of the board.
That said, I agree. Ousting the CEO is a move the board does to restore shareholder confidence, and there isn't any indication confidence is low...especially when Iger is so close to retirement already.
Typical PR move by Boeing, they're going to start beating the drum on accountability and turning a new corner. Which is all BS, but executive leadership will be applauded on wall street for their efforts. Sad to see especially when you consider the role the company has around the world.
They look out for the shareholders of the company. Since Mark Zuckerberg owns a majority of the voting shares, the board basically runs as a formality for him. The industry plays no real role on the board.
