CBNC anchor Jim Cramer said Wednesday on “Squawk Box” that Walt Disney Company CEO Bob Chapek needed to be fired because of a disappointing fiscal fourth-quarter earnings report.
Cramer said, “Disney, they have ESPN. If we were on ESPN, we would say he’s got to be fired that, that’s pretty cut and dry.”
Anchor Andrew Ross Sorkin asked, “You’re firing Bob Chapek, is that what you’re saying?”
Cramer said, “Absolutely, absolutely, absolutely.”
Sorkin asked, “Because?”
Cramer said, “I felt that he had a couple of years. The team’s going downhill. I mean, that was incredible. Last night was really the team has been going downhill.”
He added, “There is no doubt that he that he has to go. I mean, that was just unconscionable, and the quarter itself, the way he handled it. I mean, he made it sound like it was a four-star quarter. Delusional, and I believe it, and I was wrong. I was wrong.”
Cramer concluded, “The losses, Andrew, were just mind-boggling. When you’re going over the quarter, it’s stunning.
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